Global and domestic initiatives to prevent and detect money laundering, fraud, and the financing of terrorism are continuing to extend their scope. As these efforts expand, we would like to provide our clients and friends with a resource to discuss trends and developments in enforcement, compliance, and policy. Nearly a dozen federal agencies regulate Anti-Money Laundering (AML) efforts—and penalties for noncompliance range from fines, forfeitures, and indictments to the loss of reputation, stock value, and licenses to participate in the market.

The burden of that scrutiny falls largely to financial institutions, which must develop policies and procedures to identify potential money laundering, fraud, trade embargo violations, tax evasion, and other criminal activity, and report suspicious activity to the government. Affected industries include banks, broker/dealers, casinos, residential mortgage lenders, prepaid account providers, and money transmitters. Sometimes scrutiny can fall upon individual executives, owners, and other professionals.

Money Laundering Watch is a blog focused on covering the latest news and developments in the area—and providing the analysis to help you put it all in context. Our bloggers provide insight on compliance and enforcement trends, federal and state actions, regulatory developments, significant cases, and international efforts.

Our bloggers are attorneys who represent financial institutions—from global banks to smaller enterprises and internet-based providers. They draw on firsthand experience in industry and government to help clients establish and refine AML procedures, advise on customer identification and due diligence, handle government exam preparation and response, conduct internal investigations, and respond to enforcement actions. They also represent individuals caught up in money laundering and monetary reporting investigations and litigation.

They are on the front lines, helping financial institutions and professionals navigate the world of financial corruption.

Contributors

Peter D. Hardy | hardyp@ballardspahr.com | 215.864.8838 | View Full Bio

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Peter is a national thought leader on money laundering, tax fraud, and other financial crime. He is the author of Criminal Tax, Money Laundering, and Bank Secrecy Act Litigation, a well-reviewed and comprehensive legal treatise published by Bloomberg BNA.

He advises corporations and individuals from many industries against allegations of misconduct ranging from money laundering, tax fraud, mortgage fraud and lending law violations, securities fraud, health care fraud, public corruption, Foreign Corrupt Practices Act violations, and identity theft and data breaches.  He also advises on compliance with the Bank Secrecy Act and Anti-Money Laundering requirements.

Peter spent more than a decade as a federal prosecutor before entering private practice, serving as an Assistant U.S. Attorney in Philadelphia working on financial crime cases. He was a trial attorney for the Criminal Section of the Department of Justice’s Tax Division in Washington, D.C.

Marjorie J. Peerce | peercem@ballardspahr.com | 646.346.8039 | View Full Bio

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Margie is a litigator who, in her more than 30 years of practice, has handled matters across the criminal and regulatory spectrum including white collar criminal defense, regulatory matters, and complex civil litigation. Her work includes cases arising from alleged violations of the Internal Revenue Code, the Foreign Corrupt Practices Act, the Bank Secrecy Act, and a broad range of fraud investigations.

She represents numerous individuals in several Anti-Money Laundering/Bank Secrecy Act investigations by the U.S. Department of Justice and has represented a financial institution in a matter implicating Bank Secrecy Act issues. She has handled matters involving Suspicious Activity Reports and Currency Transaction Reports and structuring-related offenses and she has represented individuals accused of money laundering offenses. Margie has also handled a significant number of matters with the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the Commodities Futures Trading Commission.

Beth Moskow-Schnoll | moskowb@ballardspahr.com | 302.252.4447 | View Full Bio

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Beth is the Managing Partner of the firm’s Delaware office. She is a litigator focused on white collar crime, regulatory enforcement and compliance, and complex civil litigation, with an emphasis on banking and other financial services litigation. She represents major financial institutions, bringing actions against fraudulent debt relief companies, and defending against consumer financial services lawsuits.

Before joining Ballard Spahr, Beth was a federal prosecutor with the U.S. Attorney’s Office for the District of Delaware for more than a decade. She investigated and prosecuted financial fraud, including money laundering, bank and credit card fraud, asset forfeiture, and tax offenses.

Kevin D. Leitão | leitaok@ballardspahr.com | 646.346.8011 | View Full Bio

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Kevin joined Ballard Spahr in 2015 following 15 years of in-house counsel and senior compliance officer experience
in regulated industries. He has developed, led, and supported risk-based Bank Secrecy Act (BSA), Anti-Money
Laundering (AML), compliance, security, and vendor management programs at leading financial institutions and technology companies.

He advises clients in diverse industries on digital commerce, data security, privacy, compliance, and risk management/governance. Kevin also counsels banks, nonbank lenders, mortgage lenders, insurance companies, gaming companies, money services businesses, prepaid program managers, and precious metals dealers on matters related to BSA, AML, and the Office of Foreign Assets Control.

Priya Roy | royp@ballardspahr.com | 215.864.8336 | View Full Bio

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Priya focuses her practice on white collar defense, internal investigations, and complex civil litigation. She counsels clients in Anti-Money Laundering and Bank Secrecy Act matters, as well as matters involving allegations of tax fraud, violations of the False Claims Act and Anti-Kickback Statute, violations of the Food, Drug, and Cosmetics Act, securities violations, and other fraud and regulatory offenses.

Juliana D. Gerrick | gerrickj@ballardspahr.com | 215.864.8549 | View Full Bio

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Juliana focuses on providing regulatory advice to clients on state and federal consumer finance laws. She previously provided in-house AML compliance for a large financial institution.  She is experienced in dealing with a range of compliance and transactional issues relating to the Truth in Lending Act, Equal Credit Opportunity Act, Americans with Disabilities Act, Servicemembers Civil Relief Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Electronic Fund Transfer Act, and UDAAP statutes prohibiting unfair, deceptive, and abusive acts and practices.

Brad Gershel | gershelb@ballardspahr.com | 646.346.8034 | View Full Bio

gershel_bradley_1Brad focuses his practice on representing individuals and companies in white-collar criminal and civil matters, including government inquiries and internal investigations.

Brad has significant experience in a wide range of enforcement, criminal and regulatory matters, including those relating to fraud, foreign bribery, and public corruption. His experience spans multiple state and federal law enforcement agencies, including the DOJ, FINRA, the SEC, and New York County District Attorney’s Office. Additionally, he has represented clients in criminal and regulatory investigations for alleged violations of the False Claims Act and the Foreign Corrupt Practices Act.

Joanna Hess Kunz | kunzj@ballardspahr.com | 215.864.8319 | View Full Bio

kunz_joanna_1Joanna focuses her practice on complex litigation in both federal and state court, including experience in white collar defense, securities litigation, internal investigations, and appeals. Joanna also maintains an active pro bono practice, including representing a homeowner in a civil forfeiture case which resulted in a landmark opinion by the Pennsylvania Supreme Court, representing a federal prisoner in a civil rights case, and working with the Pennsylvania Innocence Project.

Prior to entering law school, Joanna was a policy analyst for the office of New York Mayor Michael Bloomberg. During law school she interned for the Hon. Reggie Walton of the U.S. District Court for the District of Columbia and for the Civil Frauds Section of the U.S. Department of Justice assisting on False Claims Act cases.

Jessica Case Watt | wattj@ballardspahr.com |  302.252.4449 | View Full Bio

case_jessica_1Jessica assists clients with white collar criminal defense, including conducting internal investigations, responding to subpoenas for documents and testimony, cooperating with ongoing investigations, and making presentations to the U.S. Department of Justice prior to indictment. Jessica’s white collar practice includes matters involving allegations violations of the False Claims Act, the Anti-Kickback Statute, and Stark law, among other fraud and regulatory offenses.

Jessica also practices complex commercial litigation, with experience in cases involving breach of contract, fraud, and disputes related to lending and finance agreements. She has experience representing commercial lenders in pursuing foreclosure actions to judgment and sale.  Her corporate litigation work includes matters of corporate control, corporate governance, statutory and contractual disputes, statutory demands for inspection of corporate books and records, and breach of fiduciary duties.