Federal Investigators to Ask Banks for ‘Enhanced Cooperation’ in AML Pilot Program

By Kira Zalan and Colby Adams

CORRECTION APPENDED: Federal law enforcement agencies will ask multiple financial institutions next week to take part in a pilot program intended to improve how banks identify suspicious clients and communicate with investigators. Representatives of the El Dorado Task Force, an interagency group comprised of investigators in New York and New Jersey, will propose the arrangement at an upcoming roundtable discussion with anti-money laundering (AML) officers, according to James Hayes, special agent in charge with Homeland Security Investigations in New York. "We're pushing some type of enhanced cooperation with some of the larger financial institutions, and hopefully we'll see that that's...