See Credit Details Below
Overview
Money laundering is a global issue. Anti-Money Laundering (“AML”) / Counter-Financing of Terrorism (“CFT”) regulation and enforcement continues to evolve and has grown dramatically in breadth and sophistication – just as illicit actors continue to find new and creative methods to launder their illegal proceeds. These issues present unique legal challenges and impact financial institutions, executives and professionals.
Regulators and prosecutors continue to focus on the misuse of shell companies, offshore entities, trusts, and other entities to conceal the source or control of funds used to purchase assets and make investments. Financial institutions seek compliance but stress the need to reduce regulatory burdens and provide flexibility for new technologies and industries to grow.
2023 will be another significant year in AML/CFT regulation, compliance and enforcement due to major legislative and regulatory changes. These changes will implicate not only the key issue of reporting and tracking the beneficial owners of companies, but countless other issues, including the effectiveness of AML compliance programs and BSA reporting requirements. Further, the evolving role of blockchain technology and cryptocurrency remains a key enforcement and regulatory issue. Meanwhile, significant prosecutions and forfeiture actions will continue.
What You Will Learn
-
Why you, your clients and other professionals need to worry about money laundering and AML/CFT compliance.
-
“Hot topics” in AML regulation: significant regulatory changes; new required beneficial ownership reporting by millions of U.S. and foreign business entities; the consequences for financial institutions’ AML program compliance; and more.
-
Money laundering enforcement today: what is the focus of the DOJ?
-
Cryptocurrency and digital assets: how does the current regulatory scheme apply, and how might that scheme change?
CPE Program Level: Overview
Prerequisites: A background in analyzing financial products and services. Experience regarding developing, analyzing, testing, or monitoring compliance programs.
Intended Audience: Attorneys and allied professionals who want a firm grasp of Anti-Money Laundering regulations, anti-corruption issues, and related compliance programs.
Advanced Prep: None
Lecture Topics [Total time 00:04:15]
Segments with an asterisk (*) are available only with the purchase of the entire program.
- Opening Remarks* [00:08:17]
Peter Hardy, Elizabeth Boison - Recent Trends in Money Laundering and BSA Enforcement [01:17:16]
Leo Tsao, Tara La Morte, Peter Hardy - Digital Assets and AML: Evolving Regulations and Enforcement [01:17:40]
Kathy Kraninger, Whitney Case, Elizabeth Boison - Regulatory Priorities: Beneficial Ownership, Effective AML Programs, National Priorities, and More [01:14:30]
Constantine Lizas, Matthew S. Haslinger, Peter Hardy
The purchase price of this Web Program includes the following articles from the Course Handbook available online:
- Complete Course Handbook
- U.S. Department of Justice, Assistant Attorney General Kenneth A. Polite, Jr. Delivers Remarks on Revisions to the Criminal Division’s Corporate Enforcement Policy, Washington, D.C. (Updated January 17, 2023)
Peter D. Hardy - Plea Agreement, U.S. Department of Justice, Re: United States v. Danske Bank (December 12, 2022)
Peter D. Hardy - U.S. Department of Justice, Office of Public Affairs, FACT SHEET: Administration Legislative Proposals in Support of Kleptocracy Asset Recovery (Updated April 28, 2022)
Peter D. Hardy - Andrew N. D’Aversa, Ballard Spahr LLP, Money Laundering Watch, AML Compliance “Expert” Pleads Guilty to Failure to Maintain Effective AML Program for Over $1 Billion in High-Risk Transactions (September 25, 2022)
Peter D. Hardy - Peter D. Hardy, Meredith S. Dante and Shannon Attalla, Ballard Spahr LLP, Money Laundering Watch, BSA Whistleblower Provision Gains Teeth (January 6, 2023)
Peter D. Hardy - Ballard Spahr LLP, Money Laundering Watch, DOJ Issues Report on Digital Asset Law Enforcement Seeking Expansive New Powers, and Launches New Crypto Prosecutor Network (September 19, 2022)
Peter D. Hardy - Andrew N. D’Aversa, Ballard Spahr LLP, Money Laundering Watch, Russian Agent’s Beverly Hills Condominiums Subject to Forfeiture Based on Alleged Violations of Bank Fraud, Money Laundering, and U.S. Sanctions Statues (December 18, 2022)
Peter D. Hardy - Kaley Schafer and Peter D. Hardy, Ballard Spahr LLP, Money Laundering Watch, SDNY Sentences Danske Bank in Massive AML Scandal (January 23, 2023)
Peter D. Hardy - U.S. Department of Treasury, Financial Crimes Enforcement Network, Beneficial Ownership Information Reporting Requirements, 31 CFR Part 1010, 87 Fed. Reg. 59498, No. 189 (September 30, 2022)
Elizabeth Boison - U.S. Department of Treasury, Financial Crimes Enforcement Network, Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities, 31 CFR Part 1010, 87 Fed. Reg. 77404, No. 241 (December 16, 2022)
Elizabeth Boison - U.S. Department of Treasury, National Strategy for Combating Terrorist and Other Illicit Financing (May 2022)
Elizabeth Boison - U.S. Department of Treasury, Financial Crimes Enforcement Network, Agency Information Collection Activities; Proposed Collection; Comment Request; Beneficial Ownership Information Reports, 88 Fed. Reg. 2760, No. 10 (January 17, 2023)
Elizabeth Boison - U.S. Department of Treasury, Financial Crimes Enforcement Network, Agency Information Collection Activities; Proposed Collection; Comment Request; Individual FinCEN Identifiers, 88 Fed. Reg. 2764, No. 10 (January 17, 2023)
Elizabeth Boison - Consent Order Imposing Civil Money Penalty, U.S. Financial Crimes Enforcement Network, Department of the Treasury, In the Matter of: Bittrex, Inc., No. 2022-03 (October 11, 2022)
Elizabeth Boison - Criminal Complaint, United States v. Nguyen, No. 23-MJ-528 (E.D. Pa. 2023)
Elizabeth Boison - U.S. Department of Justice, Office of Public Affairs, Justice Department Investigation Leads to Takedown of Darknet Cryptocurrency Mixer That Processed Over $3 Billion of Unlawful Transactions (Updated March 15, 2023)
Elizabeth Boison - Nicholas Kato, Ballard Spahr LLP, Money Laundering Watch, GAO Report: DOJ Cannot Provide Meaningful Feedback on SAR Use (September 1, 2022)
Peter D. Hardy - Nikki A. Hatza, Ballard Spahr LLP, Money Laundering Watch, FinCEN Reports Staggering Increase in Reported Ransomware Attacks (November 3, 2022)
Peter D. Hardy - Siana Danch, Ballard Spahr LLP, Money Laundering Watch, Russian Oligarchs and Suspicious Financial Flows: A FinCEN Analysis (January 3, 2023)
Peter D. Hardy - Nicholas Kato, Ballard Spahr LLP, Money Laundering Watch, U.S Treasury Identifies Ongoing and Emergent Money Laundering Risks and Vulnerabilities (March 16, 2022)
Peter D. Hardy - Peter D. Hardy and Siana Danch, Ballard Spahr LLP, Money Laundering Watch, FinCEN Requests Comment on Proposed Beneficial Ownership Reporting Form (January 17, 2023)
Peter D. Hardy - Peter D. Hardy, et al., Ballard Spahr LLP, Money Laundering Watch, FinCEN Final Rule for Beneficial Ownership Reporting: The “Substantial Control” Prong (October 11, 2022)
Peter D. Hardy - Peter D. Hardy, et al., Ballard Spahr LLP, Money Laundering Watch, FinCEN Issues Final Rule on Beneficial Ownership Reporting Requirements (October 7, 2022)
Peter D. Hardy - Peter D. Hardy, Philip N. Yannella and Sarah B. Dannecker, Ballard Spahr LLP, Money Laundering Watch, Privacy, Cybersecurity and Access to Beneficial Ownership Information: FinCEN Issues Notice of Proposed Regulations under the Corporate Transparency Act (December 29, 2022)
Peter D. Hardy - Kelly A. Lenahan-Pfahlert, Ballard Spahr LLP, Money Laundering Watch, Transformation of the AML/CFT Regulatory Regime Requires Innovation and Collaboration, According to FinCEN Acting Director (January 27, 2022)
Peter D. Hardy - Izabella Babchinetskaya, Ballard Spahr LLP, Money Laundering Watch, FinCEN Acting Director Das Focuses on Corruption and Transparency During U.S. House Committee on Financial Services Testimony (May 5, 2022)
Peter D. Hardy
Presentation Material
- Recent Trends in Money Laundering and Enforcement
Peter Hardy, Tara La Morte, Leo Tsao - Digital Assets and AML: Evolving Regulations and Enforcement
Elizabeth Boison, Whitney Case, Kathy Kraninger - Regulatory Priorities: Beneficial Ownership, Effective AML Programs, National Priorities, and More
Peter Hardy, Matthew S. Haslinger, Constantine Lizas
Money laundering is a global issue. Anti-Money Laundering (“AML”) / Counter-Financing of Terrorism (“CFT”) regulation and enforcement continues to evolve and has grown dramatically in breadth and sophistication – just as illicit actors continue to find new and creative methods to launder their illegal proceeds. These issues present unique legal challenges and impact financial institutions, executives and professionals.
Regulators and prosecutors continue to focus on the misuse of shell companies, offshore entities, trusts, and other entities to conceal the source or control of funds used to purchase assets and make investments. Financial institutions seek compliance but stress the need to reduce regulatory burdens and provide flexibility for new technologies and industries to grow.
2023 will be another significant year in AML/CFT regulation, compliance and enforcement due to major legislative and regulatory changes. These changes will implicate not only the key issue of reporting and tracking the beneficial owners of companies, but countless other issues, including the effectiveness of AML compliance programs and BSA reporting requirements. Further, the evolving role of blockchain technology and cryptocurrency remains a key enforcement and regulatory issue. Meanwhile, significant prosecutions and forfeiture actions will continue.
What You Will Learn
-
Why you, your clients and other professionals need to worry about money laundering and AML/CFT compliance.
-
“Hot topics” in AML regulation: significant regulatory changes; new required beneficial ownership reporting by millions of U.S. and foreign business entities; the consequences for financial institutions’ AML program compliance; and more.
-
Money laundering enforcement today: what is the focus of the DOJ?
-
Cryptocurrency and digital assets: how does the current regulatory scheme apply, and how might that scheme change?
CPE Program Level: Overview
Prerequisites: A background in analyzing financial products and services. Experience regarding developing, analyzing, testing, or monitoring compliance programs.
Intended Audience: Attorneys and allied professionals who want a firm grasp of Anti-Money Laundering regulations, anti-corruption issues, and related compliance programs.
Advanced Prep: None