The FBI and IRS are referring fewer cases to the U.S. Justice Department for criminal prosecutions, partly because of a shift in focus toward terrorism and immigration violations, a study found. FBI referrals in 2007 decreased 51 percent from 1987 and IRS referrals dropped 36 percent during the same period, according to the Transactional Records Access Clearinghouse (TRAC), a Syracuse University organization that analyzes law enforcement trends. The analysis is based on 6.8 million Justice Department records obtained by TRAC under the federal Freedom of Information Act. The decline points to the "rapidly shrinking" role of the FBI in criminal...
The U.S. Justice Department revised guidelines on prosecuting corporate wrongdoers Thursday, following pressure from lawmakers and businesses that said it had overzealously pushed companies to waive their attorney-client privileges.
The U.S. Justice Department will more aggressively use legal tools to freeze assets and detect financial wrongdoing as part of a larger strategy to combat international organized crime, the department said today.
Regulators spent less face time addressing AML concerns as the lion's share of regulatory attention was devoted to subprime lending standards and the broader credit crisis. But, when financial regulators and the Justice Department weighed in, they did so heavily, assessing record penalties.
Prosecutions and convictions citing 18 USC 1956, the primary money laundering statute, are up over 350 percent in 2007 from the previous year in cases involving national security and terrorism, according to the Transactional Records Access Clearinghouse, a Syracuse University organization.