The onslaught of civil and criminal enforcement actions against financial institutions for violating anti-money laundering and counter-terrorist financing (AML/CTF) laws has continued its brisk pace in the past few months, with enforcement of the AML provisions of the Bank Secrecy Act (BSA) and the sanctions regulations administered by the Office of Foreign Assets Control (OFAC) showing no signs of slowing down.
Loud and Clear: FinCEN Demands a Culture of Compliance
The onslaught of civil and criminal enforcement actions against financial institutions for violating anti-money laundering and counter-terrorist financing laws has continued its brisk pace in the past few months, with enforcement of the AML provisions of the Bank Secrecy Act and the sanctions regulations administered by the Office of Foreign Assets Control showing no signs of slowing down.
By
Daniel R. Alonso
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