Pressures Have Resulted in Boosting Bank AML Scrutiny Specialists Say

Pressures Have Resulted in Boosting Bank AML Scrutiny Specialists Say

April 21, 2014, Bloomberg BNA

Covington's Jean Veta is quoted regarding U.S. financial institutions facing increased scrutiny from federal law enforcement agencies and regulators concerning efforts to comply with anti-money laundering statutes and regulations. Says Veta, “It's manifesting itself in a greater emphasis during regulatory exams, an increased number of enforcement actions, bigger sanctions, and I think an increasing reliance on at least the threat if not the actuality of criminal prosecution."