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ARTICLE · 01 FEBRUARY 2019

2019: The Year Ahead In AML And Sanctions Compliance

Arnold & Porter
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AML and sanctions compliance enforcement costs remain in the billions as financial institutions in the US continue to be challenged by new regulatory requirements and continuing enforcement action

United StatesGovernment, Public Sector
Marcus Asner
Marcus Asner
Daniel Hawke
Daniel Hawke
Michael Mancusi
Michael Mancusi
Erik Walsh
Erik Walsh
Kevin Toomey
Kevin Toomey
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AML and sanctions compliance enforcement costs remain in the billions as financial institutions in the US continue to be challenged by new regulatory requirements and continuing enforcement action remediation. But, for the first time in a long time, there are indications that 2019 could be better. The regulators have clarified the difference between guidance and legal requirements and have signaled their support for exploring how innovative technologies may enhance the efficiency and effectiveness of AML and sanctions compliance programs. There are also signs that AML legislative reform may be on the horizon.

The panels, comprised of former regulators and global heads of AML and sanctions compliance divisions, provided insights on the year ahead and the steps that financial institutions should be taking to address AML and sanctions risks and maximize opportunities to work with regulators and legislators to advance AML compliance.

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