Financial services firms now stand at the center of the most complex and exacting regulatory environment ever experienced, and Financial Crimes (“FinCrimes”) compliance is a growing imperative for institutions regardless of geographical footprint, products and services offered, or customer base. Not only is the FinCrimes compliance environment enormously complex, it is evolving so rapidly that yesterday’s approach may prove inadequate to mitigate today’s risk.
In response, cross-disciplinary FinCrimes compliance and enforcement defense teams are essential to mitigate and monitor the risks. Leading FinCrimes teams integrate various regulatory requirements into a holistic risk-management and response capability covering traditional FinCrimes areas such as anti-money laundering and terrorist financing, sanctions/OFAC, and anti-corruption programs, but also cyber-security, data protection, and economic fraud prevention. Experience has taught that addressing these issues in compliance silos risks a firm that does not connect the dots, and the trend is clearly to integrate the allied compliance disciplines. The need for strategic advice across compliance disciplines is plain, to provide compliance and risk officers, general counsel, executive officers and Board members the tools they need to establish and/or maintain a leading edge financial crimes compliance program, consistent with legal requirements and regulatory expectations.
BuckleySandler’s Financial Crimes Compliance and Enforcement group supports financial services and other firms in designing, implementing, and testing compliance programs, and – as is increasingly necessary – in defending against enforcement actions and parallel civil litigation. Lawyers in our FinCrimes practice have been on the front lines of compliance developments and enforcement trends for decades, addressing substantive legal issues such as:
- Anti-money laundering/Bank Secrecy Act (AML/BSA) and terrorist financing
- Economic and trade sanctions/OFAC
- Foreign Corrupt Practices Act and anti-corruption
- False Claims Act (FCA) and Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
- Whistleblower and Qui Tam litigation
- Data privacy and cybersecurity
- Digital commerce and virtual payment systems
- Economic fraud across a variety of sectors, both inside and outside the financial services sector. Matters of corporate governance, organizational design, management information systems (MIS) reporting protocols, and general risk mitigation strategies.