Davis Polk AML/CFT head Dan Stipano discussed the decreased focus on white collar crime enforcement over the past year with Law360. 

The article highlights that recent reports show money laundering-related fines and tax fraud investigations decreased in 2025 as the Trump administration’s priorities changed. 

This shift away from white collar enforcement is happening at a time when the “global threat environment has probably never been higher when it comes to financial crime,” Dan said.

He adds that the threat is largely “fueled by technology,” noting how cryptocurrency has become “much more mainstream, but it is unquestionably a magnet for criminals and criminal activity.”

The article explains that while resources and priorities have shifted, white collar enforcement remains strong in some areas, including healthcare fraud and False Claims Act cases. “There’s less enforcement activity than there was, but there are other types of work that take up the slack,” Dan said. 

DOJ staffing changes have also been a reason for stalled investigations. “We’ve seen it happen both with the DOJ and with regulators, sometimes that’s marked by the departure of the key investigators. If the lead investigators depart, a lot of times the investigations just kind of wither on the vine – not a bad result for our clients,” Dan explained.

“Feds’ White Collar Crime Enforcement ‘Retreat’ Raises Alarms,” Law360(February 25, 2026) (subscription required)

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