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.
learn more
Is your AML compliance too expensive, time-consuming, or ineffective?
iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.
Request a demo today.
Matt Masiar, CTO
Matt is a seasoned technical leader that is passionate about building dynamic teams and innovative products. He previously served as Web Team Lead at Plenty of Fish Media, where he was responsible for a number of large-scale technical initiatives. Matt led a team of...
Matthew Unger, CEO
Matthew found early success in his career, becoming one of the youngest executive financial advisors in Investors Group Financial Services’ history at the age of 22. Featured in Canada’s leading financial industry publication Investment Executive, Matthew experienced...
Regtech Platform Launches For Tokenized Securities: ‘Mission To Build A Better Capital Market’
In a recent article published in Benzinga, iComply Investor Services announced the launch of its alpha product and the addition of Manny Alicandro, formerly COO at NASDAQ, to its team of advisors. Hailed as “groundbreaking” for the market, iComply Investor Services...
