September 11, 2001 changed the way that the world does business. United States security concerns, among other causes, resulted in the passing of the "Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001," more commonly known as the USA PATRIOT Act, which emboldened the United States Bank Secrecy Act, brought about brand new state-law anti-money laundering statutes, and deputized banks and financial institutions worldwide. Compliance with these often vague and ever-changing laws has become a top priority for those charged with the obligation of complying with them, and regulating such compliance has likewise become a top priority for regulatory agencies throughout the United States.
As the necessary result of the vigorous and widespread enforcement of so many vague and changing laws, United States banks and financial institutions walk a seemingly endless tightrope where one slip can result in the complete devastation of a business or, in certain cases, incarceration. Consequently, participants in the global financial services industry must be proactive in their operations and work well within the Anti-Money Laundering laws imposed upon them. It is crucial that such companies retain competent counsel to guide them towards compliance.
Please contact us for an initial consultation.
Fuerst Ittleman has represented financial services providers in IRS-BSA audits, OFAC licensing issues, grand jury investigations, state investigations and criminal and civil litigation. Fuerst Ittleman’s Anti-Money Laundering Compliance team is captained by Andrew S. Ittleman, Esq., who is a certified Anti-Money Laundering Specialist, a member of the National Money Transmitters Association and the National Association of Criminal Defense Lawyers.
Fuerst Ittleman's client base in AML-BSI is wide-ranging and includes:
- Banks
- Providers of Private Banking Services
- Securities Brokers and Dealers
- Money Transmitting Businesses
- Commodities Brokers and Dealers
- Investment Bankers
- Investment Companies
- Currency Exchange Services
- Insurance Companies
- Issuers, redeemers and cashiers of travelers' checks, checks, money orders, or similar instruments
- Credit Card System Operators
- Insurance Companies
- Dealers in Precious Metals, Stones & Jewels
- Pawnbrokers
- Loan and Finance Companies
- Travel Agencies and Agents
- Businesses engaged in vehicle sales, including automobile, airplane and boat sales
- Persons involved in real estate closings and settlements
- Casinos including Brick and Mortar Casinos as well as Online Casinos
- Issuers of Stored Value Cards
If you or your company has a AML-BSA concern or question, please contact Andrew S. Ittleman, Esq. at aittleman@fuerstlaw.com.
