Categories: Anti-Money Laundering

In connection with a law suit brought against a financial institution, White Collar Forensic worked together with a team of AML compliance, investigative, legal and technology subject matter experts to assist a testifying expert in connection with a report about anti-money laundering failures that allowed a pattern of criminal conduct to continue unchecked. The work revealed evidence of substantive non-compliance, management override of controls and other acts that allowed a pattern of criminal conduct to go on for several years.  The team's work contributed to counsel's ability to enter into a favorable settlement before trial.

In response to an action taken by the Federal Reserve Bank of New York and the New York State Department of Financial Services, provided investigation, financial analytical and project management resources to one of the first-ever "transaction lookbacks" performed in connection with a bank regulatory action related to the institution's systemic failures to detect and report suspicious activity.  The project consisted of an exhaustive review of U.S. based transactions spanning multiple years seeking to identify and report previously unreported suspicious activity.  The project enabled the bank to avoid severe penalties and restrictions being imposed on the bank and led to widespread improvements to the bank's transaction monitoring, investigation and suspicious activity reporting processes.