O’Melveny Worldwide

Fintech: Anti-Money Laundering Compliance 101

October 8, 2018

Compliance with Anti-Money Laundering (AML) rules can be a daunting task for any business. When it comes to the fast-moving world of token sales and cryptocurrencies, much of the legal and regulatory landscape is opaque, but the obligation to comply with AML laws is clear. In the United States, fintech companies are subject to AML oversight from a variety of federal and state regulators, including the Financial Crimes Enforcement Network (FinCEN), the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), state Attorneys General, and state financial regulators. Failure to comply with regulations may result in investigation and prosecution by the Department of Justice and other federal and state law enforcement agencies.

O’Melveny has released a primer on AML compliance for fintech companies that describes the applicable regulations and recommended compliance measures. You can read Fintech: AML Compliance 101 here

In addition, O’Melveny Senior Counsel Laurel Loomis Rimon offers her insights on fintech AML compliance and enforcement in the video below.