The Anti-Money Laundering Act of 2020 is the most comprehensive set of reforms to U.S. anti-money laundering laws since the USA PATRIOT Act was passed in 2001. The provisions requires corporations to report beneficial owners; expands whistleblower provisions, increases penalties, and explicitly expands AML regulations to cryptocurrency. Likewise, OFAC has taken aim at digital wallets, cross-border remittances, and the international gig economy for sanctions violations and the agency’s 2019 civil penalty total of $1.3 billion was the largest in ten years. This session will cover recent developments in AML and sanctions compliance and provide a view into what the payments industry can expect in the next few of years. Led by Kelley Drye & Warren partners Jaimie Nawaday
and Rob Slack
, attendees can expect practical pointers from attorneys with front-line experience in the area of compliance and enforcement actions.
For more information and to register click here.