26 Sep 2023
NEW: Anti-Money Laundering and Countering Terrorist Financing Video
Countering the financing of terrorism is a top priority of the U.S. government. Financial institutions are obliged to identify terrorists and terrorist organizations included on sanctions lists and report potential violations of law in terrorist financing transactions. Access this video, presented by John Geiringer, Partner at Barack Ferrazzano Kirschbaum & Nagelberg LLP and Co-Director of the Center for National Security and Human Rights Law at Chicago-Kent College of Law, for a comprehensive overview of money laundering and terrorist financing, and how they are both addressed by the U.S. government and the financial industry through applicable anti-money laundering (AML) or countering the financing of terrorism (CFT) requirements.
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- Bank Secrecy Act, USA PATRIOT Act, AMLA, OFAC, and other Anti-money Laundering / Anti-terrorism Regulations
Access this practice note for an overview of the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering Act of 2020 (AMLA), and other anti-money laundering (AML) regulations designed to deter terrorist financing and criminal organization activities. The practice note explores the federal requirements that U.S. financial institutions must comply with, as well as the measures an institution must undertake when criminal activities are suspected.
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Gain a comprehensive understanding of the laws and regulations requiring financial institutions to assist the U.S. government in identifying customers that pose a high risk for money laundering, terrorist financing, and other criminal activities.
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Explore this content providing the practitioner with an overview of various civil and criminal penalties that may be assessed against financial institutions for violating the provisions of the BSA, AMLA, OFAC, and other AML regulations.
Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.
- AML Fraud Red Flags Video, Transnational Criminal Organization Activity Video, and Drug Trafficking Organization Activity and AML Video are just three of the Financial Services Regulation videos providing insight on AML/CTF for financial institutions.
- Ukraine Invasion Resource Kit and Compliance with OFAC, AML, and USA Patriot Act Resource Kit include practice notes, templates, and checklists that provide key information to in-house lawyers and counsel advising financial services institutions.
- Financial Institution Regulations State Law Comparison Tool
Access this tool for federal/state-specific guidance and the ability to compare state laws for banking and non-banking financial institutions in the areas of licensing, capital requirements, AML/CFT guidelines, recordkeeping, supervision, and enforcement authority. - For related Practical Guidance content on important recent trends, please review these easy-to-use Resource Kits on a variety of emerging topics:
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- Check out the Practical Guidance Author Center! Learn about the 1750+ leading attorney authors contributing to our 26 practice areas and find out how you can Become a Practical Guidance Author. Practical Guidance is committed to amplifying diverse voices of attorneys across all differences, including gender and race.
- Legal Developments provide the latest updates and analyses of emerging topics impacting your practice area. Visit the Legal Developments page to see the latest topics, which also include breaking legal news and related Practical Guidance content.
- Listen Up! The Practical Guidance and Law360 Podcasts Resource Kit features interviews with industry-leading attorneys on cutting edge issues in the law: NFTs, Cannabis, COVID-19, and more.
- Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.
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