Anti-money laundering (AML) issues present compliance challenges for even the most sophisticated financial institutions. When it comes to these areas of the law, “getting it wrong” can result in long-standing reputational damage and substantial cost in terms of both financial penalties and added compliance burdens.
Mayer Brown’s AML practice is designed to help clients accomplish two goals. First, we seek to avoid unwanted outcomes by counseling clients on day-to-day compliance and the complexities of areas of applicable law in the United States, the United Kingdom, Europe, the Middle East and Asia. Second, if problems arise, we help clients determine the scope of the problems, investigate their root causes, assess potential liabilities, fashion remedial responses and determine whether self-disclosure to regulatory authorities is warranted. If regulators decide to take enforcement actions or to investigate, we defend clients and, if necessary, assist with the successful management of the conditions imposed under governmental settlement agreements.
- Represented a major fintech company in a grand jury investigation by the US Attorney’s Office (USAO) for the Eastern District of New York (EDNY) of alleged anti-money laundering and Bank Secrecy Act (BSA) offenses.
- Advised a parent bank holding company and bank subsidiaries in connection with examiner criticism of certain AML procedures.
- Advised several leading private equity funds with respect to establishing AML compliance protocols in order to align with bank requirements.
- Advised a large US bank on how to respond to and remediate AML compliance concerns arising from an examination.
- Reviewed and revised AML compliance policies for mortgage lenders, MSBs and payments companies.
- Advised a credit card company on specific AML compliance questions arising from transactions occurring outside the United States, including those relating to cannabis businesses.
- Reviewed target AML policies for adequacy during transaction-related due diligence.
- Advised a global payments company on US AML compliance requirements on a cross-border payments business.
- Advised a state housing authority on US AML requirements for approval as a single-family seller/servicer for government-sponsored enterprises.