dcsimg Anti-Money Laundering and Trade Embargo Compliance

Anti-Money Laundering and Trade Embargo Compliance

The Bank Secrecy Act requires many types of businesses to implement an anti-money laundering program, and all businesses are required to comply with trade and financial transaction embargoes. Every business has unique attributes and risks to consider in designing, implementing and testing its anti-money laundering and trade embargo compliance programs. McGuireWoods’ GRCI team has a proven ability to assess clients’ risks and understand their needs.

Our anti-money laundering and trade embargo compliance team includes attorneys with years of white collar crime and internal investigations experience. We have several former federal prosecutors who put their government experience to use counseling companies on federal reporting, compliance and record-keeping requirements, as well as on avoiding involuntary involvement in money laundering and illicit trading and financing.

The GRCI team provides assistance in what we have found to be the four pillars of a comprehensive anti-money laundering program. Following a self-assessment of the risk of being used for money laundering, a covered business must develop a written program that will:

  • Establish policies, procedures and internal controls designed to ensure compliance with anti-money laundering regulations.
  • Designate a compliance officer to coordinate and monitor the anti-money laundering program.
  • Provide training for appropriate personnel.
  • Implement a plan for independent review of the anti-money laundering program.

The GRCI team also counsels companies that engage in businesses that make them susceptible to the laws that impose trade and financial transaction embargoes against hostile nations, companies and individuals.

For example, certain trade and financial transaction embargoes target Cuba, Iran, Iraq, North Korea, Sudan and other hostile nations. In addition to targeted countries, a published list of Specially Designated Nationals and Blocked Persons (SDNs) includes more than 6,000 names of companies and individuals throughout the world connected to foreign narcotics traffickers, foreign terrorists and proliferators of weapons of mass destruction.

CONTACTS

Results 1-6 of 6

RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

Telecommunications company

Counseling a telecommunications company in connection with a business proposal that raised issues relating to money services businesses.
Representative Matter

Trust company

Counseling a trust company on issues related to its Customer Identification Program in connection with "Know Your Customer" requirements.
Representative Matter

Clients from diverse industries

Responding to inquiries of clients from diverse industries regarding the applicability of anti-money laundering requirements.
Representative Matter

Fortune 500 grocery chain

Representation of a Fortune 500 grocery chain in connection with anti-money laundering compliance relating to its role as a money services business.
Representative Matter

Company

Counseling a company relating to compliance with Section 314(b) of the USA PATRIOT Act and the sharing of information regarding individuals suspected of money laundering.
Representative Matter

Owner of a small business

Representation of an owner of a small business charged with violation of OFAC sanctions targeting Iran.
Results 1-6 of 6
Vassilis Akritidis
Partner
rue des Colonies 56 - box 3
1000 Brussels

T: +32 2 629 42 53
F: +32 2 629 42 22
vCard
Brian J Kelly Brian J. Kelly
Partner
7 Saint Paul Street
Suite 1000
Baltimore, MD 21202-1671

T: +1 410 659 4465
F: +1 410 659 4480
vCard
Yves Melin Yves Melin
Partner
rue des Colonies 56 - box 3
1000 Brussels

T: +32 2 629 42 26
F: +32 2 629 42 22
vCard
Matthew Orso Matthew E. Orso
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 373 4629
F: +1 704 444 8823
vCard
Robert Plotkin Robert Plotkin
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 202 857 1750
F: +1 202 828 2970
vCard

T:+1 212 548 7098
F: +1 212 548 2150

Vivian Robinson QC Vivian Robinson QC
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1732
F: +44 20 7632 1638
vCard
Susan C Rodriguez Susan C. Rodriguez
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2303
F: +1 704 444 8788
vCard
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Results 1-1 of 1