BSA/AML Enforcement Trends: Regulatory Guidance for an Effective Compliance Program
In response to a prevailing view that the US was becoming a haven for money laundering, as well as emerging risks posed by advances in financial technology and the advent of virtual currencies, Congress passed the Anti-Money Laundering Act of 2020 (AMLA 2020) as part of the National Defense Authorization Act. AMLA 2020 represents the most significant changes to federal anti-money laundering legislation since the passage of the Patriot Act in 2001. Within this expansive new legislation is the Corporate Transparency Act, which created the framework for a nationwide registry for beneficial ownership. AMLA 2020 also created new mandates for reporting and record-keeping, expanded subpoenas of U.S. law enforcement, and enhanced the role of whistleblowers in detecting and reporting financial crime. These enhancements to existing anti-money laundering laws will force financial institutions to remain vigilant while increasing the compliance requirements for market “gatekeepers” previously unaffected by AML laws.
Join a panel of key thought leaders and professionals assembled by The Knowledge Group as they delve into an in-depth analysis of the significant reforms proposed in AMLA 2020. Speakers will also provide comprehensive guidance on how to respond to these enhanced regulatory requirements.
Field of Study: Business Law
Live and Recorded CLE & CPE Webcasts in the Legal, Tax, Finance, Risk, Compliance and Human Resources Industries
Founded in November 2006, The Knowledge Group has established itself as a premier eLearning hub for Continuing Legal Education (CLE), Continuing Professional Education (CPE), and technology-focused webcasts. We equip lawyers, accountants, and industry professionals with expert-driven insights, timely regulatory updates, and practical strategies to help them stay ahead in an ever-evolving landscape.
Vice President Former Federal Prosecutor and Financial Compliance Expert Charles River Associates
Elaine Wood is a Vice President in the Risk, Investigations and Analytics practice at Charles River Associates. Ms. Wood is a former Assistant U.S. Attorney for the Southern District of New York with over 20 years of experience conducting global investigations and consulting on internal controls and procedures. Her independent findings have been submitted to regulators, courts and law enforcement agencies. She works with clients to implement compliance controls, and specializes in emerging technology solutions in security, risk management, and data governance. She is an expert in international fraud and money-laundering investigations. Ms. Wood advises on anti-money laundering (AML) and anti-bribery and corruption (ABC) programs, OFAC, FCPA and UK Bribery Act issues, corporate governance, enterprise risk management, and gap analysis. She is a member of the Association of Certified Fraud Examiners, the Association of Certified Anti-Money Laundering Specialists and the Society of Corporate Compliance and Ethics.
Principal Expert in Global Financial Crimes and Sanctions Compliance Charles River Associates
Brad Dragoon is a principal with the Risk, Investigations & Analytics Practice of Charles River Associates, and is located in New York City. Mr. Dragoon is responsible for providing compliance and risk management solutions for financial institutions and conducting complex investigations in the course of litigation or government enforcement action. He has led transactional remediations for foreign-branch offices of global financial institutions based in Europe and Asia under the supervision of state and federal banking regulators. Mr. Dragoon has significant experience in analyzing cross-border payment data, alert testing, customer activity reviews, suspicious-activity reporting, and regulatory guidance.
Counsel Experienced in AML Matters and Government Investigations Miller & Chevalier
Ian Herbert represents global companies, executives, and trustees through government investigations and related litigation. Mr. Herbert has handled all aspects of multi-jurisdictional investigations, including complex legal analysis, global litigation strategy, and factual development. A member of the firm’s Trust and Family Office and Anti-Money Laundering practice groups, Mr. Herbert has experience advising both individuals and entities, including multinational corporations, offshore trustees and financial services companies on a range of issues, including foreign bribery, tax fraud, and other financial crimes. Mr. Herbert writes and speaks regularly on issues related to white-collar criminal enforcement and money-laundering.
