We are pleased to offer the latest episode in Ballard Spahr’s Consumer Financial Monitor Podcast series — a weekly podcast focusing on the consumer finance issues that matter most, from new product development and emerging technologies to regulatory compliance and enforcement and the ramifications of private litigation. Our podcast discusses the conduct for which financial institutions have been faulted in recent Anti-Money Laundering (“AML”) enforcement actions, flags other AML-related missteps that can trigger regulatory scrutiny, and offers practical tips for avoiding regulatory criticism and reducing enforcement risk. This podcast follows up on two related blog posts, in which we provided some practical tips for financial institutions to increase the chances that their AML programs will withstand regulators’ scrutiny, and then discussed the consequences of potentially failing to heed these practical tips in a specific case: the New York Department of Financial Services’ (DFS) recent enforcement action against Mashreqbank.
We hope that you enjoy the podcast, moderated by our partner Alan Kaplinksy, and find it useful.
If you would like to remain updated on these issues, please click here to subscribe to Money Laundering Watch. To learn more about Ballard Spahr’s Anti-Money Laundering Team, please click here. To visit Ballard Spahr’s award-winning Consumer Financial Monitor blog, please click here.