Government,
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Banking,
Administrative/Regulatory
Jan. 20, 2021
New federal anti-money laundering law could affect your company
Congress recently passed the Anti-Money Laundering Act of 2020 as part of the National Defense Authorization Act.
M. Kendall Day
Partner
Gibson, Dunn & Crutcher LLP
Email: KDay@gibsondunn.com
Kendall is a member of the firm's White Collar Defense and Investigations and the Financial Institutions Practice Groups and he co-chairs the Firm's AML Practice. Before joining the firm, Kendall had a distinguished 15-year career as a federal prosecutor, eventually rising to the highest career position as an acting deputy assistant attorney general where he supervised the DOJ's nationwide anti-money laundering efforts.
Chris Jones
Senior Associate
Gibson, Dunn & Crutcher LLP
Chris primarily handles white collar criminal defense matters. Mr. Jones is admitted only in New York and Washington, D.C. and is practicing under the supervision of principals of the firm.
What do a Chinese businessman providing support to Iran's ballistic missile program, individuals running a $168 million Ponzi scheme, and the co-conspirators in the 1MDB scandal who purchased luxury real estate in Beverly Hills have in common? All allegedly relied heavily on the use of shell companies to obscure the flow of their money, thereby making it significantly harder for U.S. law enforcement to conduct investigations into these activities.
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