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C02 - Lessons Learned from ABLV and Other Major Cases Involving Inadequate Compliance Oversight

‐ Apr 15, 2019 1:45pm

• Detailing regulatory actions involving insufficient AML infrastructure and its contribution to willful violations and concealment of sanctions laws and the Foreign Corrupt Practices Act

• Reviewing the use of shell companies and disguised identities to camouflage flows of suspicious payments through at-risk channels such as remote branches

• Examining consequences for implicated institutions such as multi-billion dollar fines and ABLV’s liquidation following FinCEN prohibition of correspondent accounts by US banks