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5 Trends to Watch: 2023 White Collar Litigation

  1. U.S. v. Banks Decision May Affect Sentencing Guidelines Application – The Third Circuit Court of Appeal’s decision in this case defines “loss” under U.S. Sentencing Guidelines as “actual loss,” not “intended loss”. The ruling, which is favorable to defendants as actual loss is often lower than intended loss, may mean prosecutors have less leverage in negotiating plea deals.

  2. More DOJ Enforcement on Gatekeepers and Promoters of Financial Systems – The Department of Justice is increasing its focus on and prosecution of those it believes are misusing their positions within financial systems, such as cryptocurrency and capital markets.

  3. Rise in Sanctions Enforcement Against Nations Suspected of Violating International Law – As potential war crimes emerge, expect to see the U.S. and other countries enforce economic and other sanctions against rogue nations.

  4. Growing Number of Cares Act/Paycheck Protection Program Fraud Cases – With growing pressure from congress, for example, the government may need to reassign agents and prosecutors from other areas to reduce the backlog.

  5. DOJ Leadership May Be in Transition Mode Heading Into an Election Cycle – The practical effect of this on investigations and prosecutions is unclear, but should be closely monitored.

About the Authors

Greenberg Traurig, LLP’s White Collar Defense & Special Investigations Practice comprises over 60 experienced and knowledgeable global practitioners prepared to tackle whatever new challenges may arise, whenever they may arise. The team includes a number of former prosecutors from U.S. and non-U.S. enforcement agencies, with a wide array of experience and intimate knowledge of the highest levels of federal and state government.