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.
Navigating the FATF Travel Rule for FINRA and SEC Firms
Navigating the FATF Travel Rule with Ease
Simplify compliance with the FATF Travel Rule using iComply’s integrated platform. Automate data collection, ensure secure information sharing, and stay ahead of regulatory changes.
A Quick Start Guide to Beneficial Ownership Reviews
Simplify Beneficial Ownership Reviews with iComply
Streamline your due diligence process with automated data collection, verification, and reporting. Enhance compliance and reduce risk with iComply’s comprehensive solution.
The Future of Document Verification: From Frustration to Simplicity
Transforming Identity Document Verification: A Seamless Customer Experience
Tired of outdated, time-consuming document verification processes? Discover how iComply’s seamless solution enhances customer experience while ensuring security and compliance.
