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BSA and Fraud Outlook for 2024

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Financial Services partner Marc-Alain Galeazzi was a speaker on the “BSA and Fraud Outlook for 2024” panel hosted by International Bankers Association of California (IBAC), a professional organization in California representing the global community of financial service providers that have substantial international business. 

Financial Services partner Marc-Alain Galeazzi was a speaker on the “BSA and Fraud Outlook for 2024” panel hosted by International Bankers Association of California (IBAC), a professional organization in California representing the global community of financial service providers that have substantial international business. Marc-Alain focused on new FinCEN proposed rules for investment advisers and the real estate industry for AML compliance requirements, and the importance of BSA/AML in connection with third-party risk management considerations. Other select topics from the panel included the Corporate Transparency Act, key trends in sanctions and litigation, and evolving controls for banks.<hr>

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Marc-Alain’s practice focuses on advising and counseling domestic and foreign financial institutions on a variety of bank regulatory, Bank Secrecy Act/anti-money laundering (BSA/AML), countering the financing of terrorism (CFT), and transactional matters. Marc-Alain has significant experience representing global financial institutions in criminal and regulatory investigations and enforcement actions as well as addressing weaknesses and shortcomings in their BSA/AML compliance frameworks. He also advises clients on all AML-related issues in connection with ESG, M&A, strategic investments and private equity funds, embedded finance, blockchain and digital assets, and other corporate transactions. Marc-Alain is adept at assisting clients to build ground up BSA/AML policies and procedures, and he works closely with banks and fintechs to navigate BSA/AML considerations related to Banking-as-a-Service (BaaS) and other partnership arrangements.Further, Marc-Alain has significant experience in advising and counseling U.S. and international bank holding companies, banks, and other financial institutions on a variety of bank regulatory and transactional matters, including matters relating to:<ul><li>The Bank Holding Company Act</li><li>Regulation K and Y</li><li>The Bank Merger Act</li><li>The Dodd–Frank Act (with regard to the Volcker Rule, Living Wills, and Enhanced Prudential Standards, among others)</li><li>Applications to federal and state banking regulators for expansion of activities</li><li>Internal restructuring</li><li>New products, sales, and acquisitions of U.S. banks</li></ul>Prior to joining Morrison Foerster, Marc-Alain was an associate with two prominent global United States law firms, and he practiced law in Switzerland for several years.Marc-Alain is a member of the board of the Swiss American Lawyers Association of Greater New York (SALA). He is fluent in German, English, French, and Spanish and has a basic knowledge of Italian. He is admitted to practice in New York and Switzerland.

Marc-Alain Galeazzi

Partner

BSA/AML Advisory, Compliance, and Enforcement

Financial Services

BSA and Fraud Outlook for 2024

22 Feb 2024