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ARTICLE · 21 MARCH 2014

Recent Trends In BSA/AML Enforcement And Litigation

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Recent enforcement trends suggest that financial institutions now face more regulatory scrutiny in connection with alleged BSA and AML violations.

United StatesFinance and Banking
Christopher Laursen
Christopher Laursen
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Recent enforcement trends suggest that financial institutions now face more regulatory scrutiny in connection with alleged violations of Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations than ever before. Federal regulators have imposed more than $5 billion in civil money penalties, fines, and forfeitures ("monetary penalties") against financial institutions with respect to BSA/AML violations since the Patriot Act was enacted at the end of 2001. In this NERA paper, Christopher Laursen, Senior Vice President and Chair of NERA's Financial Institutions and Banking Practice, examines trends in BSA/AML enforcement between 2002 and 2014 and implications for associated litigation.

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