2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key topics:

  • The Panama Papers and its spotlight on the United States as a potential money laundering haven
  • New Customer Due Diligence rules for financial institutions from the Financial Crimes Enforcement Network (FinCEN)
  • New AML regulations from the New York Department of Financial Services (NYDFS) and related NYDFS enforcement
  • FinCEN’s and the Financial Action Task Force’s (FATF) focus on the high-end real estate industry to combat money laundering
  • FinCEN enforcement actions against banks and other lenders
  • The gaming industry: enforcement actions and FATF recommendations
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