FBI Concerned About Money Laundering Risks in Private Equity Transactions
Leaked report highlights FBI’s growing attention towards private sector AML risks with advice for corporations to ensure proper due diligence
What Happened?
July 14, 2020: The $10-trillion private equity market in the U.S. is facing additional scrutiny as a vehicle for money laundering, according to the intelligence bulletin reported having been leaked from the FBI.
The document suggests that private investment funds lack adequate anti-money laundering programs and calls on regulators to enhance their screening efforts of the industry.
Who Is Impacted?
Private capital markets firms, investment funds, and equity firms, as well as their law firms and due diligence providers.
Why This Matters?
As the power and size of private capital markets increased, experts are expecting regulators to pay closer attention to corporate mergers and acquisitions transactions, angel investments, and private equity markets.
What’s Next?
While no public action has been taken by regulators, private capital markets continue to operate with little-to-no KYC friction. The leaked FBI document demonstrates the growing trend among law enforcement agencies and financial regulators to set new standards of AML compliance for all verticals of private capital markets.
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Brittany Whitmore, PR & Communications
Brittany is the founder of Exvera Communications, which specializes in PR for organizations in the innovation and technology industries. In 2017, Brittany was named to BC Business Magazine’s Top 30 Under 30. Brittany was previously communications lead for Procurify, a...
Piotr Piasecki, Head of Research & Development
Piotr is a leading, world-recognized voice in the blockchain sector as an academic, programmer, advisor, and thought leader. He boasts an extensive programming and software architecture background with a specialty in blockchain and financial technology. Piotr received...
Matthias Kucharska-Huelsmann, Systems Architect
Matthias is an entrepreneurial business strategist with over 10 years of consulting and project management experience and joins iComply as Systems Architect. He has worked with blue chip companies around the world and has a proven track record of successful project...
