Cadwalader attorneys are recognized as national experts in anti-money laundering (“AML”) laws and regulations, which continue to evolve and expand since the implementation of the critical USA PATRIOT Act. They are well versed in the various U.S. and foreign AML laws and regulations, including the Bank Secrecy Act (BSA), the Money Laundering Control Act (“MLCA”), the U.K. Proceeds of Crime Act and subsequent amendments and Guidance issued pursuant to them. They are also experts in the Department of the Treasury regulations that impose compliance, reporting and due diligence obligations on the vast array of businesses that are subject to the AML laws, including banks, broker-dealers, commodities traders, investment companies, onshore and offshore mutual and hedge funds, insurance companies, real estate agents, and gatekeepers. Attorneys in the group have defended financial institutions in AML enforcement actions conducted by federal and state banking authorities, advised and assisted these institutions in establishing AML compliance programs, and conducted audits pursuant to examinations by, and settlements with, banking regulators. They have also conducted wide-ranging investigations of offshore banking, personal investment companies, and trust operations in a number of jurisdictions.
We regularly advise financial institutions and corporate clients on USA PATRIOT Act matters, and the interplay of those with sanctions, anti-terrorism efforts, and anti-corruption policies, as well as related government policies on asset-forfeiture and the significant risks they entail. Members of the practice are intimately familiar with EU Directives, and Organisation for Economic Cooperation and Development (“OECD”) and Financial Action Task Force (“FATF”) initiatives.
The head of our practice is the co-author of “Money Laundering, Terrorism and Financial Institutions,” a leading treatise on the topic, and our other anti-money laundering experts include four former senior federal prosecutors and a leading expert on economic sanctions. All of these attorneys bring extensive expertise and insight in the enforcement of AML and related regulations.