2012 Saw an Increase in Enforcement Against Banks

Mark S. Cohen and Jonathan S. Abernethy, partners at Cohen & Gresser, and Elizabeth F. Bernhardt, counsel at the firm, write that in three prominent enforcement actions in 2012 - against ING, Standard Chartered Bank and HSBC - prosecutors and regulators extracted massive fines for conduct ranging from intentional concealment of illicit transactions to ineffective monitoring.

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