Anti Money Laundering AML & Hedge Funds

AML & Hedge Funds

Anti Money Laundering & Hedge Funds

Lately I have been connecting over email with Chris Ernst from Kahler Forensic solutions regarding AML and the hedge fund industry. Anti Money Laundering (AML) has become a hot subject over the last 10 years. To date hedge funds have largely avoided many AML requirements and close scrutiny but this may be one area which quickly changes with the American political climate:

Anti-money laundering (AML) measures stemming from the Bank Secrecy Act (BSA) and the U.S. Patriot Act were created to ensure that society is protected against criminal and terrorist activity. The rationale why different financial sectors fall under mandatory AML regulation is clear when one considers how these entities are excellent vehicles to launder money. In observing this rationale, why have hedge funds been essentially excluded from this category? Is there a need for mandatory AML compliance in hedge funds? There appears to be many schools of thought on this. With a new administration
taking over the White House and scrutiny in all areas of compliance, the debate might soon come to an end. What does this potential change mean for AML professionals with a limited understanding of hedge funds, as well as for hedge fund compliance professionals with limited exposure to mandatory AML compliance?

To read this full article please see page 36 of this link.

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Tags: Anti Money Laundering, AML, AML and Hedge Funds, AML and Private Equity, Anti Money Laundering Investment Funds, Anti Money Laundering Act Laws Rules