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AML compliance attorney — Law Office of Jason Tenenbaum
AML & BSA Compliance

AML Compliance Challenges?
We Protect Your Business.

From BSA program development to FinCEN enforcement defense, our attorneys help financial institutions and businesses navigate complex anti-money laundering regulations.

Licensed in NY, NJ, FL, TX, GA, MI & Federal Courts

24+

Years Experience

6+

State Licenses

Confidential

Business-Focused

AML Compliance Services

How We Protect Your Institution

BSA/AML Program Development

End-to-end design of Bank Secrecy Act compliance programs tailored to your institution's risk profile.

SAR Filing & Review

Suspicious Activity Report preparation, filing, and retroactive review to ensure FinCEN compliance and defensible documentation.

KYC/CDD Programs

Know Your Customer and Customer Due Diligence frameworks that satisfy the FinCEN CDD Rule and withstand regulatory examination.

OFAC Sanctions Screening

Sanctions compliance programs, SDN list screening protocols, and remediation for potential violations.

FinCEN Enforcement Defense

Representation in FinCEN investigations, consent orders, and civil money penalty proceedings.

AML Audit Preparation

Pre-examination readiness assessments, gap analysis, and remediation to prepare for federal and state AML audits.

Correspondent Banking Compliance

Due diligence programs for correspondent and payable-through accounts under USA PATRIOT Act Section 312.

Cryptocurrency AML Compliance

AML/CFT programs for virtual asset service providers, exchanges, and DeFi platforms under evolving FinCEN guidance.

The Cost of Non-Compliance

Why AML Compliance Matters

Proactive compliance costs a fraction of enforcement penalties. In fact, the consequences of inadequate AML programs are severe and increasingly common.

$1B+

Annual FinCEN Fines

FinCEN has assessed billions in civil money penalties against institutions with deficient AML programs.

10 Years

Criminal Exposure

Willful BSA violations carry criminal penalties up to 10 years imprisonment under 31 U.S.C. Section 5322.

Charter Loss

Regulatory Action

Regulators can revoke charters, issue cease-and-desist orders, and remove officers for systemic failures.

Protected

With Proper Counsel

A well-designed AML program demonstrates good faith, limits liability exposure, and satisfies examiners.

Getting Started

Three Steps to Compliance Confidence

1

Call or Click

Reach us at (516) 750-0595 or submit a confidential inquiry. We respond within one business day.

2

Free Compliance Assessment

We evaluate your current AML program, identify regulatory gaps, and outline a remediation strategy tailored to your risk profile.

3

We Build Your Defense

From program design to enforcement response, we construct an AML compliance framework that protects your institution and satisfies regulators.

Why Tenenbaum Law

Compliance Counsel That Understands Your Business

AML compliance is not a checkbox exercise. Instead, it requires counsel who understands your institution's operations, risk exposure, and the regulators who examine you. With 24 years of practice and multi-jurisdictional licensing, we bring the depth financial institutions and compliance officers demand.

Multi-Jurisdictional License

Admitted in New York, New Jersey, Florida, Texas, Georgia, Michigan, and multiple federal courts — covering the regulatory landscape your institution operates in.

Financial Regulation Expertise

Deep knowledge of BSA, FinCEN, OFAC, USA PATRIOT Act, and state-level requirements including NY DFS Part 504 transaction monitoring.

Audit-Ready Documentation

We design every program, policy, and procedure to withstand regulatory examination and demonstrate institutional good faith.

Confidential Business Counsel

Attorney-client privilege protects all communications. We understand the sensitivity of compliance matters and the reputational stakes involved.

Client Perspective
"When FinCEN opened an inquiry into our transaction monitoring, Jason's team responded within hours. They guided us through the examination, remediated the gaps in our program, and ultimately resolved the matter without penalties. Their understanding of the regulatory process was exceptional."
C

Compliance Officer

Regional Financial Institution

Regulatory Landscape

AML Regulatory Framework We Navigate

The AML regulatory environment is multi-layered and constantly evolving. We advise institutions on the full spectrum of applicable requirements.

Bank Secrecy Act (BSA)

Core AML statute requiring financial institutions to maintain records and file reports that assist in detecting and preventing money laundering.

FinCEN Regulations & Reporting

CTR, SAR, and CMIR filing requirements, beneficial ownership reporting, and MSB registration obligations under 31 CFR Chapter X.

USA PATRIOT Act Sections 311-326

Enhanced due diligence for correspondent accounts, information sharing provisions, and customer identification program requirements.

OFAC Sanctions Compliance

SDN list screening, sectoral sanctions, and country-based embargoes administered by the Treasury Department's Office of Foreign Assets Control.

NY DFS Part 504

New York's transaction monitoring and filtering program requirements, including annual board-level certifications of compliance.

SAR Filing & KYC/CDD/EDD

Suspicious activity reporting timelines, customer due diligence under the FinCEN CDD Rule, and enhanced due diligence for high-risk relationships.

AML Compliance Questions

Frequently Asked Questions

What is AML compliance?
Anti-Money Laundering (AML) compliance refers to the set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. In the United States, AML obligations arise primarily under the Bank Secrecy Act, the USA PATRIOT Act, and FinCEN regulations. A compliant AML program includes customer identification, transaction monitoring, suspicious activity reporting, and independent testing.
Who needs an AML program?
Any "financial institution" as defined by the BSA must maintain an AML program. This includes banks, credit unions, broker-dealers, money services businesses (MSBs), insurance companies, casinos, and — increasingly — cryptocurrency exchanges and certain fintech companies. If your business transmits, exchanges, or custodies funds, you likely have AML obligations. Call (516) 750-0595 for a confidential assessment.
What is a SAR and when must it be filed?
A Suspicious Activity Report (SAR) must be filed with FinCEN when a financial institution detects a transaction that it knows, suspects, or has reason to suspect involves funds from illegal activity, is designed to evade BSA requirements, or has no lawful purpose. SARs must generally be filed within 30 calendar days of the initial detection of suspicious activity — or 60 days if no suspect is identified.
What are the penalties for AML violations?
Penalties are severe. Civil money penalties can reach $1 million or more per violation per day. Criminal penalties under 31 U.S.C. Section 5322 include fines up to $500,000 and imprisonment up to 10 years. Willful violations carry enhanced penalties. In addition, institutions face consent orders, cease-and-desist orders, charter revocation, and reputational damage that can be existential.
What is KYC/CDD?
Know Your Customer (KYC) and Customer Due Diligence (CDD) are the processes financial institutions use to verify the identity of their customers, understand the nature of their activities, and assess the money laundering risks they pose. Under the FinCEN CDD Rule (effective May 2018), covered institutions must also identify and verify the beneficial owners of legal entity customers holding 25% or more equity.
How often should AML programs be audited?
Federal regulators expect independent AML program testing at least every 12 to 18 months for most financial institutions. Higher-risk institutions — those with significant international exposure, correspondent banking relationships, or a history of regulatory issues — should consider more frequent testing. Our firm conducts gap analyses and audit preparation to ensure your program is examination-ready.
Does my cryptocurrency business need AML compliance?
Yes. FinCEN classifies most cryptocurrency exchanges, administrators, and certain DeFi platforms as money services businesses (MSBs) subject to BSA requirements. This means registration with FinCEN, implementation of a written AML program, SAR and CTR filing obligations, and recordkeeping requirements. Several states impose additional requirements. Non-compliance has resulted in significant enforcement actions.
How much does AML compliance counsel cost?
Costs vary based on the complexity of your operations, the maturity of your existing program, and the scope of services required. We offer an initial confidential compliance assessment at no charge. Ongoing advisory relationships are structured as flat-fee retainers or project-based engagements — never contingency. Contact us at (516) 750-0595 to discuss your needs.
Jason Tenenbaum, Personal Injury Attorney serving Long Island, Nassau County and Suffolk County

About the Author

Jason Tenenbaum

Jason Tenenbaum is a personal injury attorney serving Long Island, Nassau & Suffolk Counties, and New York City. Admitted to practice in NY, NJ, FL, TX, GA, MI, and Federal courts, Jason is one of the few attorneys who writes his own appeals and tries his own cases. Since 2002, he has authored over 2,353 articles on no-fault insurance law, personal injury, and employment law — a resource other attorneys rely on to stay current on New York appellate decisions.

Education
Syracuse University College of Law
Experience
24+ Years
Articles
2,353+ Published
Licensed In
7 States + Federal

Act Before Regulators Do

Regulatory Risk Doesn't Wait. Neither Should Your Compliance Program.

Enforcement actions are increasing. Penalties are escalating. A proactive compliance program is your institution's strongest defense. Let us build it.

Confidential consultations. Multi-state licensed. Attorney-client privilege protected.

About Our Legal Practice

The Law Office of Jason Tenenbaum, P.C. has been representing injured individuals and workers throughout Long Island and New York City since 2002. Attorney Jason Tenenbaum founded the firm, now headquartered at 326 Walt Whitman Road, Suite C, Huntington Station, New York 11746. Today, the firm's six attorneys bring over 112 combined years of legal experience to personal injury, employment discrimination, no-fault insurance, and workers' compensation cases. The team speaks English, Spanish, Italian, Japanese, and Russian.

Attorney Tenenbaum has written more than 1,000 appellate briefs, handled over 100,000 no-fault insurance cases, and recovered over $100 million in verdicts and settlements. He is admitted to practice in New York, New Jersey, Florida, Texas, Georgia, and Michigan state courts, as well as multiple federal courts. His 2,353+ published legal articles analyzing New York case law make him one of the most prolific legal commentators in the state. Attorneys, judges, and insurance professionals across all four Appellate Division departments rely on his analysis.

The firm operates on a contingency fee basis for personal injury and employment discrimination cases — you pay no attorney fees unless we recover compensation on your behalf. Additionally, every consultation is free and confidential. Our practice areas include car accidents, truck accidents, motorcycle accidents, pedestrian accidents, bicycle accidents, slip and fall injuries, premises liability, medical malpractice, product liability, dog bites, construction accidents, wrongful death, employment discrimination, wrongful termination, workplace harassment, wage and hour violations, no-fault insurance disputes, and workers' compensation claims. Call (516) 750-0595 for a free consultation.

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