Insights

Washington – February 27, 2023: Global Investigations Review has named Crowell & Moring’s Investigations and White Collar & Regulatory Enforcement groups to its prestigious GIR 100 list, an annual guide to the world’s leading cross-border investigations practices. Based on extensive research, GIR selects 100 firms from around the world that it deems most able to handle sophisticated cross-border government-led and internal investigations. This is the eighth consecutive year that Crowell & Moring has made the list.

On February 14, 2024, U.S. Department of Justice (“DOJ”) Deputy Attorney General Lisa Monaco (“DAG”), the second in command at the U.S. Department of Justice, announced to an audience at Oxford University a key development in how the DOJ and its prosecutors plan to address the dangers posed by AI technology. DAG Monaco likened the use of AI in the commission of a crime to the use of a weapon, calling it a “sword,” and characterizing its misuse as “dangerous.” She stated, “Like a firearm, AI can also enhance the danger of a crime.” 

While not new, Congressional investigations have certainly been receiving increased press coverage in recent years, raising questions about their scope and potential risk for organizations and individuals. Congressional investigations have some similarities to other law enforcement and regulatory investigations, but are distinct in many respects. This alert will provide guidance about the unique nature of congressional investigations, and how to respond if you are the target of one.

On August 10, 2021, the Financial Crimes Enforcement Network (“FinCEN”) and the Commodity Futures Trading Commission (“CFTC”) jointly announced $100 million in civil settlements with five entities responsible for the operations of BitMEX, a foreign peer-to-peer convertible virtual currency (“CVC,” or cryptocurrency) derivatives exchange. FinCEN said that the settlement represents FinCEN’s first enforcement action against a futures commission merchant (“FCM”). The settlements signal continued regulatory scrutiny of cryptocurrency exchanges, particularly those based outside the U.S., for their anti-money laundering (“AML”) compliance and compliance with related securities and derivatives laws.