Banking Industry Hears from Harris Beach Attorney on Beneficial Ownership Information Rule
Harris Beach attorney Constantine P. Lizas recently presented a webinar on the Corporate Transparency Act’s Beneficial Ownership Information Rule on
Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Compliance & Regulation
Tougher enforcement is here
Recent enforcement actions and FinCEN alerts signal that tougher enforcement of Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations is coming. Harris Beach attorney Constantine Lizas, a former DOJ prosecutor and FDIC enforcement attorney, can advise your financial institution on how to avoid becoming a target, defend against negative examination findings or an enforcement action, and help remediate BSA/AML issues.
In addition, Mr. Lizas can guide your institution through the changes that will begin occurring as Anti-Money Laundering Act of 2020 changes are implemented in the coming months. Importantly, he can support your institution’s efforts to implement a risk-based BSA/AML compliance program. Financial institutions should prepare accordingly, particularly in the areas of customer due diligence, beneficial ownership, and suspicious activity reporting. Mr. Lizas guides institutions through compliance efforts – reach out to him for support using the button below.
Navigating The Corporate Transparency Act: The Final BOI Rule
With FinCEN’s final beneficial ownership information reporting rule on the horizon, compliance specialists are itching to know how to prepare. With an increase in required reporting on the horizon, financial institutions are asking how to update their policies, and what the long term impacts to the industry will look like. In this webinar, Constantine Lizas answers all those questions and more.
Constantine can support your financial institution with:
Understanding the Anti-Money Laundering Act of 2020
Navigating changes resulting from the AMLA of 2020 including changes to the BSA/AML compliance program, suspicious activity reporting, and beneficial ownership rules.
Avoiding Anti-Money Laundering Investigations
As a former prosecutor and enforcement attorney, Mr. Lizas handled multiple investigations involving BSA violations. He knows the types of problems that lead to government investigations and is positioned to help banks avoid becoming a target.
Developing an BSA/AML Compliance Program
Mr. Lizas can guide the development, implementation, and enhancement of risk-based BSA/AML compliance programs, including detail about an institution’s duties to conduct customer due diligence, monitor transactions (including transactions involving digital assets) and file suspicious activity reports.
Blockchain and Digital Assets (Cryptocurrencies)
Mr. Lizas can help develop processes for their integration into banking. He can guide the integration of digital assets into your funds flow, and the adoption of blockchain technology, and nodes into the institution’s core processes.
Banking Marijuana-Related Businesses
Mr. Lizas wrote the first draft of the interagency guidance on hemp and can assist with strategies for funding marijuana-related businesses.
Developing Working Relationships with Government Agencies
Best practices when engaging the FDIC, Financial Crimes Enforcement Network (FinCEN), Federal Reserve, National Credit Union Administration, and Office of the Comptroller of the Currency.
Additional Resources:
FinCEN Issues Scam Alert Involving the Corporate Transparency Act
Harris Beach is warning business owners of a recent scam involving the Corporate Transparency Act (CTA). The Financial Crimes Enforcement
American Bar Association Responds to Money Laundering Concerns, Amends Model Rules of Professional Conduct
The American Bar Association’s House of Delegates recently amended its Model Rule of Professional Conduct 1.16 to avoid attorneys’ “unwitting
Harris Beach Attorney Discusses Corporate Transparency Act
Harris Beach attorney Constantine P. Lizas recently spoke to the Rochester Business Journal about the Corporate Transparency Act, which requires
Harris Beach Attorney Weighs in on FDIC Examination Practices
An Illinois bank’s deficient compliance program that drew the attention of federal regulators was the subject of a recent ACAMS
New York Proposes Greater Regulation and Enforcement of Cryptocurrency Industry
New York is considering groundbreaking legislation that the state’s attorney general calls the “strongest and most comprehensive set of regulations
Constantine Lizas Discusses Cryptocurrency Transaction Traceability with San Francisco Standard
The stabbing death of entrepreneur Bob Lee in San Francisco last week put MobileCoin, the cryptocurrency company he led as
Partner Constantine Lizas Weighs in on Possible Silicon Valley Bank Sale
With the collapse of Silicon Valley Bank still reverberating throughout the financial and tech sectors, the U.S. Federal Deposit Insurance
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