Anti-Money Laundering

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.

• 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.