April 04, 2023
Wells Fargo Fined $97.8 Million for Violating U.S. Economic Sanctions
The U.S. Department of the Treasury and the Federal Reserve Board announced Wells Fargo will pay $97.8 million for helping facilitate more than 100 financial transactions, violating U.S. sanctions against...
Posted In Whistleblower Law Insights
March 28, 2023
Senators Grassley and Warren Introduce Bill to Strengthen the SEC Whistleblower Program
This month Senators Chuck Grassley (R- Iowa) and Elizabeth Warren (D-MA) reintroduced legislation designed to strengthen the Securities and Exchange Commission (SEC) Whistleblower Program. The bipartisan legislation...
Posted In Whistleblower Law Insights
March 23, 2023
Collapse of banks highlights the need for strong accounting practices and whistleblowers to expose fraud
Just weeks before the collapse of Silicon Valley Bank (SVB) and Signature Bank, accounting firm KPMG signed off on both of the banks’ audits. These failures come as audit firms are increasingly in the...
Posted In Whistleblower Law Insights
March 09, 2023
Connecticut and Maryland look to Expand State False Claims Acts
With the potential to recover millions of dollars lost to fraud, Connecticut and Maryland are both looking to expand their states’ False Claims Acts this legislative session. Connecticut Connecticut’s...
Posted In Whistleblower Law Insights
February 10, 2023
President Biden Stresses Fraud Enforcement in State of the Union Speech
Fraud Enforcement Matters. The past year saw the Department of Justice recover over $2 billion in cases under the False Claims Act. Those cases included settlements in cases brought against pharmaceutical...
Posted In Whistleblower Law Insights
February 09, 2023
Colorado Expands False Claims Act Enforcement Beyond Medicaid
On June 7, 2022, the Governor of Colorado signed the Colorado False Claims Act (CFCA) into law. The CFCA, modeled after the federal False Claims Act (FCA), imposes liability on those who knowingly present...
Posted In Whistleblower Law Insights
February 06, 2023
False Claims Act penalties increase
The US Department of Justice has raised the minimum and maximum penalties that can be assessed for violations of the False Claims Act, as well as civil monetary penalties under other laws, as part of...
Posted In Whistleblower Law Insights
January 20, 2023
Supreme Court Takes on Cases on FCA’s Knowledge Standard
On January 13, the Supreme Court announced it would hear a pair of cases concerning a critical element of liability under the False Claims Act – a defendant’s mental state. A person violates the FCA...
Posted In Whistleblower Law Insights
January 03, 2023
Congress Includes Needed Amendments for AML Whistleblowers in Omnibus Spending Bill
The $1.7 trillion year-end spending legislation passed by Congress and just signed by the President contains important amendments to the anti-money laundering (AML) whistleblower program. The Anti-Money...
Posted In Whistleblower Law Insights
December 22, 2022
SEC Settles with Honeywell for $81 Million in Latest SEC Action for Paying Bribes in Brazil
On December 19, the SEC announced that Honeywell – a North Carolina-based manufacturer of aerospace, building technologies, and automation products – has agreed to pay more than $81 million to settle...
Posted In Whistleblower Law Insights