Financial Institutions and Banking

Bank Secrecy Act and Anti-Money Laundering

Over the past several years, financial regulators have undertaken an increasing number of investigations and enforcement actions dealing with the Bank Secrecy Act (BSA) and other Anti-Money Laundering (AML) regulations.  Additionally, private litigants have sought to show non-compliance with BSA and AML rules in efforts to demonstrate various types of malfeasance by financial institutions. Recent regulatory settlements have included significant fines for maintaining poor internal controls, failure to detect and report evidence of illicit activity, and willful violations of BSA.

NERA assists clients with BSA/AML-specific matters in numerous legal forums. Financial institutions rely on NERA to provide expert reports and testimony in litigation and regulatory proceedings. As part of our work in these matters, NERA experts use regulatory knowledge and experience along with appropriate statistical analyses to assess the appropriateness of firm procedures, in relation to both BSA/AML regulations and financial industry standards and practice. Our team -- which includes former regulatory agency personnel -- offers a unique set of qualifications. We combine an authoritative understanding and interpretation of BSA law and AML regulations with years of experience providing highly rigorous, clear, objective, and defensible analysis.