Recently, the New York State Superintendent of Banks made headlines when he commenced an enforcement action against Standard Chartered, a U.K. bank with a state-licensed branch in New York City, for allegedly laundering $250 billion for Iranian interests from 2001 to 2007.

The action was quickly resolved, with the bank agreeing to pay $340 million to the State and to significantly strengthen its internal AML and OFAC compliance. Meanwhile, the bank still faces a separate probe by federal agencies, including OFAC.

In this webinar, we will discuss what lessons are to be learned by banks and other entities with AML compliance responsibilities, given the prospect of 50-plus new enforcers.  

topics

  • Periodic AML risk assessment—a crucial aspect of AML compliance 
  • Establishing and implementing AML policies and procedures 
  • AML issues garnering the most attention from regulators 
  • Key SAR detection and reporting points 
  • OFAC awareness and compliance 
  • Limitations, if any, on the authority of State regulators in this arena 
  • Responding to AML investigations 
  • The potential for global resolutions

Participants will receive a complimentary copy of our AML/SAR Compliance Health Check Questionnaire. The questionnaire will help you identify necessary steps to achieve AML and SAR compliance.

program

12:00 PM - 1:00 PM ET | Webinar

moderator

Alan S. Kaplinsky, Practice Leader, Consumer Financial Services Group

panelists

Keith R. Fisher, Of Counsel, Bank Regulation and Supervision Group
Beth Moskow-Schnoll, Partner, Consumer Financial Services Group