The scope of global Anti-Money Laundering (AML) scrutiny and enforcement for financial institutions is enormous and growing. Numerous federal agencies regulate AML—and penalties for non-compliance range from fines, forfeitures, and indictments to the loss of reputation, stock value, and licenses to participate in the market.
Ballard Spahr represents a broad range of financial institutions—from the largest financial institutions in the nation to smaller enterprises and internet-based providers. Our attorneys draw on first-hand AML experience in both industry and government to help clients establish and refine AML policies and procedures, as well as conduct compliance training and audit existing programs.
We advise on customer identification and due diligence, requirements for filing suspicious activity reports, government exam preparation and response, due diligence for lending and acquisitions, and Office of Foreign Assets Control requirements.
If potential violations have occurred, we conduct internal investigations and assist in responding to administrative, civil or criminal investigations, government enforcement actions, and related civil ligation by private parties regarding fraud schemes.