News

U.S. investigations into suspected breaches of the Bank Secrecy Act will lag and eventually dwindle in number thanks to staff turnover, a narrower remit for cases and a reallocation of resources inside the Justice Department, former prosecutors told ACAMS moneylaundering.com. Since President Donald Trump took office on Jan. 20, his administration has overhauled the Justice Department's framework against corruption, including by suspending enforcement of the Foreign Corrupt Practices Act, or FCPA, and reassigning prosecutors away from the Kleptocracy Asset Recovery Initiative, Kleptocracy Team and Task Force KleptoCapture. At the same time, the department has endured several high-profile resignations and dismissals...