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Bench & Bar of Minnesota is the official publication of the Minnesota State Bar Association.

Money Laundering & Terrorist Financing

The federal Government has identified members of the legal profession, among others, as “gatekeepers” to the international financial and business markets and so has sought to impose stringent anti-money laundering (“AML”) and counter-terrorist financing obligations on these groups.  Concerned about how mandatory gatekeeper requirements might adversely affect confidential attorney-client relationships and other issues, an American Bar Association Task Force has developed risk-based guidance to enable attorneys to assess the money laundering and terrorist financing risk posed by each client and respond appropriately. Voluntary “good practices guidance” can be found online at http://tinyurl.com/aejteda/. For additional information on the federal Gatekeeper Initiative and the Guidance visit http://tinyurl.com/d6nf4fh/


Kevin L. Shepherd

Chair, ABA Task Force on Gatekeeper Regulation and the Profession

www.americanbar.org/groups/criminal_justice/gatekeeper.html

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