Anti-Money Laundering 2024: Risks, Due Diligence, and Compliance in an Evolving Legal World

Money laundering is a global issue. Anti-Money Laundering (“AML”) / Counter-Financing of Terrorism (“CFT”) regulation and enforcement continues to evolve and has grown dramatically in breadth and sophistication – just as illicit actors continue to find new and creative methods to launder their illegal proceeds. These issues present unique legal challenges and impact financial institutions, executives and professionals. 

Regulators and prosecutors continue to focus on the misuse of shell companies, offshore entities, trusts, and other entities to conceal the source or control of funds used to purchase assets and make investments. Financial institutions seek compliance but stress the need to reduce regulatory burdens and provide flexibility for new technologies and industries to grow. 

2024 will be another significant year in AML/CFT regulation, compliance and enforcement due to evolving technology. These changes will implicate countless issues, including the effectiveness of AML compliance programs and BSA reporting requirements. Further, the evolving role of blockchain technology and cryptocurrency remains a key enforcement and regulatory issue. Meanwhile, significant prosecutions and forfeiture actions will continue. 

Guidehouse Session:

Recent Trends in Money Laundering and BSA Enforcement   

Time: 9:15 – 10:30 a.m.

The Department of Justice continues to bring major money laundering indictments and civil forfeiture actions. 

The panel will discuss: 

• Enforcement actions against individuals: key cases and emerging trends. 
• Enforcement actions against organizations: key cases and emerging trends. 
• The implications for U.S. financial institutions and their AML programs, including risks and the red flags for potentially problematic customers and business lines. 

Panel Leader:  Elizabeth Boison, Partner, Global Regulatory, Hogan Lovells

Panelists: 

• Alma Angotti, Partner, Financial Crime, Fraud & Investigative Services
• Michael Grady, Chief, Bank Integrity Unit, U.S. Department of Justice, Criminal Division

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