transcript   Transcript

AML/CFT Compliance: What do Lawyers and Their Clients Need to Know Now?

Recorded on: Jun. 6, 2017
Running Time: 01:13:25

Full Transcript:

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Taken from the Web Program Anti-Money Laundering Due Diligence and Compliance 2017: What Lawyer, Accountants, and other Professional Service Providers Need to Know recorded June 2017 in San Francisco.

AML/CFT Compliance: What do Lawyers and Their Clients Need to Know Now? [01:13:25]

Why should legitimate businesses and their lawyers worry about AML/CFT compliance?

  • Identifying and avoiding business risks, including emergingAML/CFT typologies such as trade-based or service-based money laundering (TBML / SBML)
  • Customer due diligence, for financial service providers and other types of businesses
  • Fintech and new payment mechanisms; increased emphasis on real estate (see FinCEN’s GTOs)

W. Hardy Calcott, Janice Durisin, Michael Fesko

The purchase price of this segment includes the following article from the Course Handbook available online:

  • Press Release, FinCEN Renews Real Estate “Geographic Targeting Orders” to Identify High-End Cash Buyers in Six Major Metropolitan Areas, U.S. Department of the Treasury (February 23, 2017)
    Nicole S. Healy
  • Sample Geographic Targeting Order, U.S. Department of the Treasury (February 21, 2017)
    Nicole S. Healy
  • Designing and Implementing an Effective Compliance Program
    Nicole S. Healy
  • Banking Division Transaction Monitoring and Filtering Program Requirements and Certifications, New York State Department of Financial Services, Superintendent’s Regulations, Part 504
    Nicole S. Healy
  • Customer Due Diligence Requirements for Financial Institutions, 31 C.F.R. §§ 1010, 1020, 1023, 1024 and 1026 (May 11, 2016)
    Nicole S. Healy
W. Hardy Callcott ~ Sidley Austin LLP
Janice Durisin ~ Senior Manager, Anti-Money Laundering Consulting , Deloitte Transactions and Business Analytics LLP
Michael Fesko ~ Vice President, Financial Intelligence Unit, First Republic Bank
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