Anti-Money Laundering

Hunton Andrews Kurth LLP’s anti-money laundering (AML) lawyers advise clients on regulatory requirements and industry best practices that address the ever-changing methods used by money launderers and sanctioned individuals and entities attempting to gain access to financial systems in the United States and abroad.  Our lawyers represent domestic and international banks, trust companies, mortgage lenders, FinTech companies, investment advisors, finance companies, insurance companies, casinos, money transmitters and payment processors, private fund managers and other types of bank and nonbank financial institutions.

In addition to lawyers based throughout the United States, the firm’s offices in London, Brussels, Beijing and Bangkok provide us with multijurisdictional coverage and a global perspective on issues affecting large, international companies. We have an expansive knowledge of global compliance needs, addressing cross-border issues in a variety of areas related to AML and sanctions, including privacy and cybersecurity requirements and anticorruption laws.

An Integrated Team

We offer clients access to highly-skilled lawyers with extensive government and public sector experience, including attorneys with prior experience working for key regulatory agencies such as the Securities and Exchange Commission and the Office of the Comptroller of the Currency (OCC). In addition, our team includes lawyers with private-sector experience. The perspective gained from prior government service gives our team the ability to negotiate global resolutions of complex enforcement actions, balancing our clients’ business objectives with the need for sound compliance policies and robust programs.

Regulatory Inquiries and Enforcement Actions

When our clients are faced with a regulatory inquiry or enforcement action, we provide early intervention and defense strategies to address allegations of wrongdoing and system failures. Our key capabilities in this area range from the preventative to the defense-oriented and include the following:

• Responding to matters requiring attention (MRAs) and other regulatory inquiries
• Developing remediation plans following a consent order
• Supervising lookback audits and advising on reporting requirements
• Advising on self-reporting of suspicious activity report (SAR) disclosures and other BSA violations
• Negotiating settlements with regulators to resolve AML and sanctions failures
• Defending clients in connection with follow-on investigations by the Department of Justice for money laundering and other criminal violations
• Advising on liability for civil monetary penalties to include forfeiture monetary judgments and restitution

Compliance, Testing and Training

Our team advises on a range of compliance issues arising under BSA/AML and sanctions requirements.  We handle the full spectrum of export control laws and regulations, such as sanctions programs administered and enforced by OFAC and the Department of Commerce Bureau of Industry and Security. We offer a range of compliance services that can be adapted to the specific needs of our clients, including:

• Drafting outward-facing AML and sanctions policy statements for use in third-party transactions and joint ventures
• Drafting and implementing procedures and internal controls to cover required risk monitoring and reporting obligations
• Conducting confidential gap analyses of AML and sanctions compliance, which may include transaction testing and subsequent validation of remedial measures
• Developing tools and matrices for conducting risk assessments
• Advising on risk-based settings and modifications for monitoring software to reduce “false positives” and function more efficiently
• Developing training programs tailored to relevant business lines and employee responsibilities
• Conducting enhanced due diligence on high-risk customers and counterparties, including the identification and evaluation of beneficial owners under applicable laws and regulations
• Prioritizing compliance projects, coordinating working groups and supervising the work of outside consultants tasked with conducting compliance reviews and implementation of new procedures
• Advising on staffing models and the sufficiency of compliance resources as dictated by the assets and risk factors