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
- Scrutiny of the high-end real estate industry by FinCEN and the Financial Action Task Force (FATF)
- FinCEN enforcement actions against banks and other lenders, including under Section 311
- The gaming industry: FinCEN enforcement actions and FATF recommendations
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).
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