Money Laundering Expert Witnesses

What areas may money laundering expert witnesses consult on?  They are experts in fraud investigations, forensic auditing, and financial forensics.  On March 12th, Commerzbank of Germany has admitted to illegal conduct under US sanctions and bank secrecy laws. The second-largest German bank will pay $1.45B in fines after hiding transactions with Iran and Sudan and processing hundreds of millions of dollars through New York.

U.S. Department of Justice March 12, 2015 Press Release:
Commerzbank AG, a global financial institution headquartered in Frankfurt, and its U.S. branch, Commerzbank AG New York Branch (Commerz New York), have agreed to forfeit $563 million, pay a $79 million fine and enter into a deferred prosecution agreement with the Justice Department for violations of the International Emergency Economic Powers Act (IEEPA) and the Bank Secrecy Act (BSA). The bank has also entered into settlement agreements with the Treasury Department’s Office of Foreign Assets Control (OFAC) and the Board of Governors of the Federal Reserve System.

 

About Karen Olson

Information Professional with twenty years experience in legal, public record, and business research. Fifteen years law firm experience.

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