Conclusion As the fintech industry transforms traditional banking practices, it falls under enhanced government scrutiny. Without a thorough AML compliance program in place, fintech companies risk damage to their reputation and the loss of investor and customer confidence in their business. In order to continue growing without the risk of not complying with AML laws, fintech companies – and the financial institutions that partner with them – must know the AML requirements that apply to their business, identify potential weaknesses within their AML compliance programs, and implement gold standard AML compliance programs. Jodi L. Avergun is a partner at Cadwalader, Wickersham & Taft LLP in Washington.

Her practice focuses on representing financial institutions, corporations and individuals in criminal and regulatory matters involving, among other things, the FCPA, securities enforcement, anti-money laundering, health care, and general white collar matters. Prior to joining Cadwalader, Jodi spent 17 years as a federal prosecutor with the United States Attorney’s Office for the Eastern District of New York and with the Criminal Division of the Department of Justice. Colleen D. Kukowski focuses her practice on white collar criminal defense and compliance issues.

She advises clients in a variety of criminal and regulatory matters, concentrating primarily on international corruption and internal corporate investigations. Prior to joining Cadwalader, Colleen served as an intelligence analyst in the Federal Bureau of Investigation’s Counterterrorism Division, where she supported top priority terrorism investigations and worked extensively with Foreign Intelligence Surveillance Act (FISA) surveillance. http://www.crowdfundinsider.com/2016/04/83845-complying-with-aml-laws-challenges-for-thefintech-industry/ .