Anti-Money Laundering Enforcement: The Rise of Individual Liability for Compliance Professionals

Anti-Money Laundering Enforcement: The Rise of Individual Liability for Compliance Professionals

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Partner Sharon Cohen Levin, Counsel Elizabeth J. Hogan and Senior Associate Tamar Kaplan-Marans, in an article published by The Review of Securities & Commodities Regulation, highlight the increased individual liability risks faced by anti-money laundering compliance officers. The article lays out a series of steps that officers can take to safeguard against the growing threat.

A notable response to the financial crisis has been the call for individual accountability for corporate bad acts. In her speech quoted above, US Securities and Exchange Commission Chair Mary Jo White comments that “[r]edress for wrongdoing must never be seen as 'a cost of doing business' made good by cutting a corporate check. Individuals tempted to commit wrongdoing must understand that they risk it all if they do not play by the rules. Read the full article

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