We are really pleased to be moderating the Practising Law Institute’s 2020 Anti-Money Laundering Conference on May 12, 2020, starting at 9 a.m. Perhaps needless to say, this year’s conference will be entirely virtual.  But the conference still should be as informative, interesting and timely as always.  Our conference co-chair, Nicole S. Healy of Ropers Majeski Kohn & Bentley PC in San Francisco, will conduct a similar program on May 15, 2020.

We are lucky to have a truly fantastic line-up of very experienced and knowledgeable panelists:

Of course, the conference will tackle many critical issues in BSA/AML compliance and money laundering enforcement, all of which this blog frequently has addressed.  The three panels will be:

“Hot” Issues in AML and Money Laundering: Cryptocurrencies and Cannabis

The cryptocurrency and cannabis industries continue to pose a fascinating mix of competing opportunities and risks – particularly from an AML perspective. Technological innovation, changing societal opinions and business opportunities can conflict with the need for transparency and daunting legal landscapes. Despite some skeptics, these industries appear to be here to stay. Navigating the money laundering risks can be particularly difficult.  The panel will discuss:

  • Recent enforcement actions involving cryptocurrency and cannabis
  • Managing the specific AML risks presented by both industries – from the perspective of financial institutions as well as industry participants
  • The current status of legislative reform as to cannabis and banking

Shell Companies and the Real Estate Industry

Shell companies and the issue of true beneficial ownership continue to be the most critical AML and money laundering issue facing financial institutions, both in the U.S. and abroad. This is certainly true in the real estate industry, which has come under increasing scrutiny in recent years, leading to new reporting obligations for certain high-end deals. Among other issues, the panel will discuss:

  • The general problem posed by shell companies and ongoing regulatory efforts
  • Money laundering risks faced by real estate professionals and industry best practices
  • FinCEN’s Geographic Targeting Orders
  • Future possible legislation and regulation

Sanctions, Trade Embargos and AML

Economic sanctions enforcement has become increasingly active and can involve multiple agencies. Any AML program absolutely must account for the U.S. economic sanctions regime, which presents the uneasy combination of great complexity with potentially severe consequences for violations. The panel will discuss:

  • Key trends in enforcement at the DOJ and the U.S. Treasury Department’s Office of Foreign Assets Control
  • The nuts and bolts of an effective sanctions compliance program
  • The impact of economic sanctions law on financial institutions and BSA/AML programs.

We hope you attend!

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