Jeffrey Alberts, partner and leader of Pryor Cashman's White Collar Defense and Investigations Practice, spoke with Compliance Reporter about the evolution of fraud prosecution, and trends for 2014. 

In recent years, the U.S. Attorney's Office has seen a rise in civil money laundering cases and asset forfeitures, with the government increasingly charging lower level employees and institutions, Alberts said.

"It's an area where, when it comes to compliance, financial services companies have to be particularly concerned," Alberts said. "Whereas before, the government might only bring criminal charges against the one or two people leading a fraud, the government is now more likely to make use of civil forfeiture and money laundering rules to pursue civil actions against other individuals and institutions," he added.

Prior to joining Pryor Cashman in November 2013, Alberts served for six years as an Assistant U.S. Attorney in the Southern District of New York's Criminal Division, where he played a key role in the Asset Forfeiture Unit. His practice focuses on government investigations and prosecutions, asset forfeiture and money laundering litigation, among other areas.