Global prosecutors and regulators continued to increase anti-money laundering enforcement and regulatory actions.  Global and US regulators have increasingly focused on beneficial ownership and transparency requirements.  In 2018, FinCEN’s Customer Due Diligence rule went into effect.  

US prosecutors also brought several significant AML criminal prosecutions against large banks; the SEC has increased AML enforcement as part of reviews of internal controls.  Regulators brought enforcement actions against financial institutions and gatekeepers, including compliance officers.

In this episode, Michael Volkov discusses 2018 AML enforcement actions and compliance trends.