Welcome to Bates AML & Financial Crimes: In Brief - Practitioner News, Webinars and Resources for Professional Success

Barry Koch Testifies in Congressional Hearing on Human Trafficking

On Thursday, March 25, 2021, Bates AML expert Barry Koch testified before the House Financial Services Subcommittee on National Security, International Development and Monetary Policy in a virtual hearing entitled, “Ending Exploitation: How the Financial System Can Work to Dismantle the Business of Human Trafficking.” Mr. Koch is the owner and founder of Barry M. Koch PLLC and a Commissioner of the Liechtenstein Initiative at the United Nations University Center for Policy Research. A founding member of the U.S. and EU Bankers’ Alliances Against Human Trafficking, he has delivered numerous presentations on the topic.

Read his testimony here. Watch his testimony here (starts at 28:13).

Annemarie McAvoy to Moderate AML Panel

Compliance Changes in the Art & Antiques World - New York City Bar CLE Webcast with Expert Annemarie McAvoy (program chair and moderator) April 8, 2021

Bates Group affiliate expert and consultant Annemarie McAvoy will be moderating a live CLE webcast from the New York City Bar Association on Thursday, April 8^th at 5 pm ET. The program will discuss compliance changes affecting art and antiquities dealers due to the recent overhaul of the Bank Secrecy Act. Joining her will be Jane Levine (Former Chief Global Compliance Counsel, Sotheby’s), Patty Gerstenblith (Professor and Faculty Director, Center for Art, Museum & Cultural Heritage Law at DePaul College of Law), and Marcus A. Asner (Partner and White Collar Defense & Investigations Practice Co-Chair, Arnold & Porter).

Program and registration information here

Bates and Actimize Upcoming AMLA Webinar

On April 28, 2021, Managing Director Edward Longridge will be speaking on a webinar co-hosted by Bates AML and Financial Crimes and NICE Actimize on the Anti-Money Laundering Act of 2020 ("AMLA"). AMLA became law on January 1, 2021 and is the most significant update to the Bank Secrecy Act (“BSA”) rules since the USA PATRIOT Act in 2001. It incorporates substantial changes to the laws governing the combatting of money laundering and terrorist financing and is expected to have a broad impact on enforcement. Registration opening soon.

Notify me when registration is open

Resources to Support Your Success

Are you ready for the AML Act? Check out Bates’ thought leadership library to Learn More.

Download our latest White Paper: The Anti-Money Laundering Act of 2020 and the Shifting AML Framework

Read our AMLA coverage: Significant Changes to Anti-Money Laundering Framework Enacted into Law

AML Question of the Day

Q: How will the SEC scrutinize AML during examinations?

A: AML remains an SEC examination priority in 2021. Peter Driscoll, Chair of the SEC Division of Examinations, recently relayed at a March 2021 SIFMA C&L Society webinar that the SEC will be focusing on tailored, structured and timely independent testing of AML systems, the remediation of findings by subject matter experts on key areas like SARs, high risk customers and products (to name a few) and whether the firm is following up on any red flags.

For more information about Bates AML and Financial Crimes services, please contact:

Dennis Greenberg, Managing Director

dgreenberg@batesgroup.com or 914-588-3965

About Bates:

Bates AML and Financial Crimes helps its clients meet their AML/FC obligations through experience, resources and ongoing guidance. We work within the U.S. and internationally, with a European partner firm offering artificial intelligence and AML optimization for projects. Bates is a practitioner-led firm, consisting of former Chief AML Officers and Chief Compliance Officers, former regulators and practicing attorneys, Risk Management Officers, as well as data and technology specialists, delivering exceptional results on a cost-effective basis.