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CFT/AML Issues and Related Litigation Facing Global Financial Institutions

September 17, 2013 • New York, NY

As any global financial institution that provides international services or deals with dollar-based transactions is aware, the regulatory landscape has grown more daunting.  The challenges confronting such financial institutions to design and implement robust compliance programs that are capable of detecting suspicious transactions and that will survive scrutiny when measured against ever-changing standards are more pronounced than ever, and the costs of failing to meet these challenges are more staggering than ever.  The expectations of regulators and government officials, especially in the U.S. but also around the world, also have evolved to the point of requiring financial institutions to play a quasi-law enforcement role, especially as it relates to transactions potentially for the benefit of sanctioned countries or designated entities or individuals.  Added to this mix is a recent New York Court of Appeals decision that suggests that the mere act of maintaining a correspondent banking relationship may be sufficient to establish jurisdiction in U.S. courts over foreign financial institutions without any presence in the U.S., thus opening the door for civil claims against such institutions and subjecting their transactions to the scrutiny of  American plaintiffs’ lawyers seeking big money damages.

Crowell & Moring, in conjunction with the Institute of International Bankers (IIB), invite you to join us for a breakfast briefing to discuss these regulatory issues, legal developments and challenges that are facing global financial institutions.  Our speakers will offer practical insights into recent case law, current trends and tips for reducing risks and enhancing compliance, especially with respect to counter financing of terrorism (CFT), anti-money laundering (AML) and U.S. sanctions programs, and will lead a group discussion on typologies of suspicious transactions and best practices for detecting such transactions.

8:00 am – 8:30 am
Registration and Networking Breakfast

8:30 am – 10:00 am
Presentation and Interactive Audience Discussion

Crowell & Moring
590 Madison Avenue
New York, NY 10022

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