2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key topics:
- The Panama Papers and its spotlight on the United States as a potential money laundering haven
- New Customer Due Diligence rules for financial institutions from the Financial Crimes Enforcement Network (FinCEN)
- New AML regulations from the New York Department of Financial Services (NYDFS) and related NYDFS enforcement
You can read more about these topics areas in the blogs that follow. Click here to read the full article 2016 Year in Review: Money Laundering (Part One).