Partner Constantine Lizas Advises Global Anti-Corruption TechSprint
Harris Beach Partner Constantine P. Lizas is serving as a Bank Secrecy Act/Anti-Money Laundering (BSA/AML) adviser this week during a TechSprint sponsored by the U.S.
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.
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:
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
Harris Beach Partners Author Law360 Article on Russian Sanction Evasions
With the imposition of sweeping new sanctions on Russia and Belarus following the invasion of Ukraine, the Financial Crimes Enforcement Network has been issuing a series of
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