Jonathan Lopez, a litigation partner in Orrick's Washington, D.C. office who previously served as an inaugural Deputy Chief of the Department of Justice's Money Laundering & Bank Integrity Unit, recently spoke with The Wall Street Journal [subscription required] regarding the attitude that the Trump administration may take towards financial crime enforcement.
According to Jonathan, Trump "can't totally let go and relax enforcement on banks, as it pertains to money laundering and sanctions, because of his commitment to deal with Islamic State."
Jonathan added that he expects Trump to push for robust enforcement of anti-money laundering rules, especially concerning the knowledge of customers, because "he's going to need their help" to stop terrorism.
"Contrary to his general anti-regulatory stance, I would expect he would continue down that path to ensure our institutions aren't being used for terrorism finance," he said.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
