AML Risks in Real Estate

Posted by & filed under AML General, Negative News.

The real estate market is hot…especially for money launderers. The purchasing of real estate with illicit proceeds is not a newly identified method of money laundering, yet it continues to be pervasive with drug traffickers, corrupt officers, and criminals. In a way, this should be one of the more difficult ways to launder funds, as… Read more »

AML Programs for Broker-Dealers – SEC and FINRA say One Size Does Not Fit All

Posted by & filed under AML General, Negative News.

The SEC and FINRA announced that broker-dealer anti-money laundering (“AML”) programs continue to be a focus and priority for 2017. While most, if not all, broker-dealers likely have some form of AML program, this continued focus by the SEC and FINRA indicates that having just any program is not enough. Key Aspects for an AML… Read more »

Six Considerations when Investigating Foreign Correspondent Banking Clients

Posted by & filed under AML General, Negative News, Research & Investigation.

correspondent banking investigation

It is well known that correspondent banking relationships result in heightened money laundering and terrorist financing risks, and deficiencies in AML programs relating to correspondent banking clients have led to billions of dollars in regulatory fines. While there is a multitude of literature and commentary on the AML risks and challenges associated with foreign correspondent… Read more »