Anti-Money Laundering Compliance
Anti-Money laundering compliance involves the procedures, regulations and laws intended to deter criminals from illegally obtaining funds as lawful income through fraudulent activities.
Examples of criminal activities that are regulated by the anti-money laundering laws (AML) include:
- market manipulation
- tax evasion
- public funds corruption
- illegal goods trade
- terrorist financing
- techniques to disguise the crimes and proceeds obtained from illegal schemes
Financial institutions are responsible for monitoring customers’ transactions to make sure they are not part of money laundering activities. Institutions must monitor and keep accurate records in accordance with the FATF. The Financial Action Task Force (FATF) is a global group of organizations and countries whose mission is to develop world standards to deter money laundering and to promote enactment of these standards.
Attorney Michael Padula has the background, skill set, and recognition to provide advice on issues associated to anti-money laundering compliance. During his time with the Department of Justice Michael Padula handled large-scale investigations into financial institutions for defective anti-money laundering compliance programs.
In addition to his public service, Michal Padula has extensive experience in high-profile and complex litigation. For example, Michael is regularly called upon by international banks regarding their compliance with United States anti-money laundering laws. In addition to banks he advises broker dealers, casinos, and money service businesses.
Contact Attorney Michael Padula
If you have concerns with anti-money laundering compliance concerns call (305) 455-5206 for a free and confidential consultation.