Drug Trafficking Organization Activity

The risk of drug trafficking activity is a top priority for U.S. regulatory agencies, as it generates the largest amount of illicit proceeds laundered in or through the U.S. financial system. The Treasury Department's Office of Foreign Assets Control (OFAC) is increasingly issuing sanctions to foreign organizations involved in smuggling illicit drugs into the United States. Watch this video, presented by Michael Robotti, a partner at Ballard Spahr LLP, for an overview of FinCEN's guidance to address anti-money laundering (AML) risks associated with Drug Trafficking Organization Activity.

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Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.          

• Practice Videos provide guidance and best practices for financial institutions in trending areas of AML, cryptocurrency, payments, and financial technology.
• OFAC Violation Responses and Compliance with OFAC, AML, and USA Patriot Act Resource Kit are two of the resources available to aid institutions in responding to a violation of U.S. sanctions laws, as well as understanding the key issues, laws, and regulations applicable to in-house lawyers and counsel advising on drug trafficking or other illegal money laundering activity.
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