White-Collar Crime 2024 Trends and Developments in US Criminal Law
As we all know, New York City is the financial hub of the United States, and with that title comes a lot of attention when it comes to white-collar crime. Specifically, the Southern and Eastern Districts of New York have been busy prosecuting high-profile cases involving securities fraud, insider trading, and other financial crimes. These districts, under the US Department of Justice, have a reputation for taking on some of the most complex white-collar cases in the country.
In recent years, we’ve seen a shift towards incentivizing individuals to come forward and cooperate with law enforcement in exchange for leniency. The SDNY and EDNY have introduced new policies that offer non-prosecution agreements to those who are willing to report wrongdoing and assist in prosecuting others. This approach puts pressure on companies to improve their internal compliance measures and report fraud before their employees beat them to it.
Another trend we’ve noticed is the expansion of jurisdiction by the SDNY and EDNY, allowing them to go after defendants located overseas. They’ve also been cracking down on foreign interference in domestic affairs, showing a commitment to maintaining national security. This emphasis on using criminal laws to combat bribery, money-laundering, and fraud is likely to continue in the coming years.
When it comes to the world of crypto-markets, prosecutors have been active in pursuing cases involving fraud and money laundering related to crypto-assets. By leveraging existing statutes, they have been able to obtain convictions for misleading marketing practices and abuse of crypto exchanges for criminal purposes.
In summary, 2024 has been a year of progress in the fight against white-collar crime in New York. With a focus on incentivizing self-reporting, expanding jurisdiction, and policing the crypto markets, law enforcement agencies in the state are sending a clear message that illegal financial activities will not go unpunished.
