Prosecutors and regulatory agencies in the U.S. and elsewhere have long set expectations that, in order to maximize the prospect of receiving full cooperation credit (including any associated reduction in monetary penalties), the voluntary disclosure of corporate and/or individual wrongdoing must be made timely, genuinely, and in good faith. Several…
Although the Financial Crimes Enforcement Network (“FinCEN”) is often perceived as the aggregator of Suspicious Activity Reports (“SARs”) and other federally-mandated financial forms and reports, its actual activities extend well beyond the information-gathering role suggested by its designation as a “Network.” FinCEN, in fact, makes proactive use of its regulatory…