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Covington has a leading practice representing our financial institutions clients on issues related to national security. Our lawyers have represented clients before Congressional hearings regarding money laundering activities and in regulatory investigations into anti-money laundering and foreign trade control compliance, and have advised clients on handling national security-related requests for information.
For decades Covington has advised all manner of financial institutions on compliance with national security-related federal regulations.
We counsel financial institution clients on the proper treatment of sensitive requests for information from U.S. government agencies, including the handling of so-called “National Security Letters” issued under the Right to Financial Privacy Act and the National Security Act.
Our lawyers are expert in the Bank Secrecy Act and anti-money laundering requirements of the federal government, and we have represented financial institutions before Congressional committees, federal regulators, and state and foreign governments in connection with alleged domestic and international money laundering activities. We frequently conduct internal investigations of, and advise on the development of internal controls for, compliance with domestic and foreign anti-money laundering laws and regulations.
We also counsel financial institutions on foreign trade control regulations and advise our financial institution clients on compliance with the national security-related transaction regulations of the Office of Foreign Assets Control.
We represent domestic and foreign financial institutions before the Office of Terrorism and Financial Intelligence of the Department of the Treasury, including with respect to matters involving the USA PATRIOT Act and the Financial Action Task Force, among others.
Representative Matters
- Conducting internal reviews of anti-money laundering and Bank Secrecy Act compliance programs for leading financial institutions.
- Advising leading financial institutions in responding to National Security Letters.
- Assisting leading financial institutions in connection with unannounced and targeted special examinations by U.S. and overseas regulatory authorities.
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