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 Global Compliance Challenges: An Interview with Matthew Unger, CEO of iComply
Interviewer: Hi Matthew, thank you for joining us today. Could you start by introducing yourself and explaining your role at iComply? Matthew Unger: Sure, I’m Matthew Unger, the CEO and founder of iComply. I started the company in 2017 to tackle the challenges in...
Corporate KYC Compliance: Ensuring Business Integrity and Security
Understanding Corporate KYC Compliance In today’s increasingly regulated business environment, Corporate KYC (Know Your Customer) compliance is more crucial than ever. This process involves verifying the identities of corporate clients, understanding their business...
Real-Time AML Checks: Enhancing Compliance and Security in Financial Transactions
In today’s digital world, financial crimes are evolving rapidly, challenging institutions to innovate their protective measures. Traditional methods of detecting money laundering fall short, making real-time Anti-Money Laundering (AML) checks essential. These checks...