You get a call from an old friend that needs help. His brother-in-law works for the government in Thailand and he wants your help to wire transfer $6.5 million out of the country, set up a series of LLCs and then buy luxury condos. Good idea to represent this client?
The drug trade and globalization has led to more dirty money flowing into the U.S. and lawyers unwittingly taking part in money laundering. Timothy Dunfey will teach you the risks & red flags of money laundering and how to protect yourself, your clients and your law firm from being used as a laundromat. In this CLE he will: discuss the lawyer’s role as gatekeepers, explore relevant federal regulation, show you how to measure geographic risk and detail the guidance to attorneys from the ABA. Additional topics: protecting your trust accounts, placement, layering, integration, the 1MDB case, Currency Transaction Reports (CTR), Suspicious Activity Reports (SAR’s), the USA Patriot Act, the Anti-Money Laundering Act of 2020, the Office of Foreign Asset Control (OFAC), Geographic Targeting Orders (GTO), real estate, title companies, knowing your client, Beneficial Ownership, Client Due Diligence and the danger of cash businesses.
Timothy Dunfey, Esq., CFE, CAMS, is a consulting expert who has 16 years of experience in financial services operations and compliance. Mr. Dunfey is a highly seasoned professional experienced in all facets of AML and OFAC processes, regulatory communications, investigations, and risk management.