Small Funds’ Big AML Compliance Risks

Law360, New York (December 1, 2016, 11:57 AM EST) -- Venkat Rao

Louis Bruno

Barry Eisenberg The risks of noncompliance with anti-money laundering (AML) laws continue to increase — especially for smaller fund managers. Not only do smaller funds have a very different AML risk profile from their larger institutional counterparts, but they also are likely to have fewer compliance resources available to focus on potential AML violations. For this reason, smaller funds should carefully consider their AML compliance strategy.

A further challenge is reinforced by a new rule proposed by the Financial Crimes Enforcement Network...
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