What You Need To Know About Today’s Evolving Anti-Money Laundering Laws
Regulators and prosecutors are focusing on the misuse of shell companies, offshore entities, trusts, and beyond.
While money laundering permeates today’s movies and TV — from dark dramas like Ozark to lighter fare like Good Girls — the practice is much more than a plot device in real life.
According to the United Nations Office on Drugs and Crime, anywhere between $800 billion and $2 trillion is laundered each year. The United States Sentencing Commission reported the sentencing of 755 money laundering offenders in 2020, an increase of over 30% since 2016.
Today, regulators and prosecutors are focusing on the misuse of shell companies, offshore entities, trusts, and beyond. And while financial institutions are striving to comply, they’re also arguing for the need to reduce regulatory burdens and provide flexibility for new technologies and industries to grow.
It’s no surprise, then, that Anti-Money Laundering (“AML”) and Counter-Financing of Terrorism (“CFT”) regulation and enforcement continues to evolve, broaden, and become more sophisticated as launderers develop new and creative methods.
To help explain the unique legal challenges money laundering presents and the impact it has on financial institutions, executives, and professionals, PLI is offering a half-day program titled Anti-Money Laundering 2022: Risks, Due Diligence and Compliance in an Evolving Legal World.
The PLI program will cover some of the hottest money laundering topics today, including:
- Why you, your clients, and other professionals should be concerned with money laundering and AML/CFT compliance
- Significant legislative and regulatory changes in this area
- The new beneficial ownership reporting required of millions of U.S. and foreign business entities
- The consequences for financial institutions’ AML program compliance
- Money laundering enforcement today, including the DOJ’s current focus
- How current AML/CFT regulations apply to cryptocurrency and digital assets, and how that might change going forward
We’re likely to see even more significant AML/CFT regulation, compliance, and enforcement in the year to come. To gain a practical understanding of this sophisticated area of law, register today.
