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 Corp is already looking to
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.
Bank Secrecy Act Update: Navigating the Customer Due Diligence Rule and Emerging Third-Party Risks
In this webinar, Harris Beach partners Constantine Lizas, Ross Hofherr, who advises financial institutions on a host of regulatory compliance matters, and associate Adriana Baranello will address the increasing examiner scrutiny on CDD and third-party risk from FinTechs and other IT third-party service providers.
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:
Constantine Lizas to be Expert Panelist During Independent Bankers Association of New York State Spring Virtual Meeting
Partner Constantine Lizas will present, “BSA/AML Enforcement Action & Update on Anti-Money Laundering Act of 2020″ during the Independent Bankers Association of New York State’s “Committed
Constantine Lizas Speaking at Anti-Money Laundering 2023: Risks, Due Diligence and Compliance in an Evolving Legal World
Partner Constantine Lizas will co-present at, “Anti-Money Laundering 2023: Risks, Due Diligence and Compliance in an Evolving Legal World,” presented by Practising Law Institute. An overview
New York Sends Clear Message Crypto Exchanges and Banks Must Meet AML Obligations
New York’s Department of Financial Services (“DFS”) recently announced a $100 million settlement with Coinbase, Inc., one of the world’s largest cryptocurrency exchanges, for Bank
Potential BSA/AML Roadmap – Crypto Exchange Bittrex Enforcement Actions
The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) and Office of Foreign Assets Control (“OFAC”) settled enforcement actions with Washington state-based Bittrex. In the
Banks, Credit Unions, and the Beneficial Ownership Information Final Rule
On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued the first of three final rules implementing the Corporate Transparency Act’s beneficial ownership information
Partner Constantine Lizas Discusses Anti-Money Laundering with Buffalo Business First
The Anti-Money Laundering Act of 2020 instituted new regulations on banks and other financial institutions in the fight against financial crimes. As Lead Counsel for
Recent Enforcement Actions Indicate Heightened Scrutiny of BSA/AML Compliance and Digital Assets
Recent enforcement actions against banks indicate a new regulator emphasis on digital assets and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance. Last year, Anchorage Digital Bank
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