Compliance & Ethics

When you think of government contracts, the last thing that might come to mind is a mix-up of payments or a cybersecurity breach, especially when it comes to protecting our nation’s military families. But that’s exactly what’s behind two of the most recent enforcement actions by the Department of Justice (DOJ), resulting in settlements worth more than $40 million. These cases serve as a strong reminder of the serious responsibility companies take on when they sign contracts to serve the public, particularly when it involves taxpayer funds and sensitive data.

The Financial Conduct Authority (FCA) has handed down a fine of £1,662,700 to Mako Financial Markets Partnership LLP (Mako) for serious lapses in its systems and controls—failings that left it vulnerable to facilitating financial crime. This is the latest in a series of enforcement actions stemming from the FCA’s deep dive into cum-ex trading, a practice that has raised alarms across Europe and beyond.

When President Donald Trump signed an executive order on February 10, 2025, pausing the enforcement of the Foreign Corrupt Practices Act (FCPA), he set off a chain reaction that has reverberated through boardrooms and government offices alike. The executive order gives the Department of Justice (DOJ) 180 days to review and revise its approach to FCPA enforcement, a move that could dramatically reshape how the U.S. tackles international corruption.

Barclays has found itself in the midst of an investigation by the U.K.’s Financial Conduct Authority (FCA) over its money-laundering controls. The London-based bank disclosed this news on Thursday in its annual report, confirming its full cooperation with the FCA as the regulator digs deeper into the bank’s handling of financial crime risks.

The National Treasury Employees Union (NTEU) has filed two lawsuits in response to recent executive actions that it argues threaten both the continued operation of the Consumer Financial Protection Bureau (CFPB) and the privacy of its employees. The lawsuits, filed on February 10, 2025, highlight concerns over the impact of these measures on both the agency's mission and the personal security of its workforce.

In his testimony before the Senate Banking Committee on Tuesday, Federal Reserve Chairman Jerome Powell faced a question that has been on the minds of many -What happens if the Consumer Financial Protection Bureau (CFPB), a critical agency tasked with consumer protection, faces diminished funding or is otherwise hindered in its operations?

Brink’s Global Services USA, Inc. (BGS), a well-known name in currency transport, is paying the price for serious compliance failures. The company has agreed to millions in penalties following multiple violations of the Bank Secrecy Act (BSA), a key piece of U.S. anti-money laundering (AML) law. This settlement includes a $37 million civil penalty levied by the Financial Crimes Enforcement Network (FinCEN) and a $50 million forfeiture linked to criminal charges for operating as an unlicensed money transmitter.