Articles ZEK’s David Chenkin quoted in American Banker Article, “FIFA Scandal Will Test Banks’ Anti-Money-Laundering Liability” By David B. Chenkin | May 28, 2015 Thursday, May 28, 2015 — Today’s American Banker quotes ZEK’s David B. Chenkin in an article concerning the recent indictment of certain FIFA officials by the United States Department of Justice. The indictment against FIFA, the international soccer organization, contends that more than $150 million in bribe money to FIFA illegally flowed through the U.S. financial system for more than two decades. While the 161-page indictment identifies 26 banks, none have been accused of any wrongdoing. As noted by Mr. Chenkin, several of the bribe payments were designed to evade money laundering detection and controls: “According to the indictment, the alleged scheme was structured to avoid detection,” said David Chenkin, a partner at Zeichner Ellman & Krause. “One way to avoid detection of illegitimate transactions is to make them appear similar to the normal and expected account activity of an entity.” Article link: American Banker Article For nearly forty years, Mr. Chenkin has represented global corporations and senior executives in complex litigation and government investigations. He has counseled clients in many significant investigations conducted by the United States Congress and by federal, state and local prosecutors and regulators. Chenkin is nationally recognized for expertise in anti-money laundering (“AML”)/financial crime compliance and is certified as an Anti-Money Laundering Specialist by ACAMS (which is not affiliated with any governmental authority). He also frequently collaborates with other firms whose clients face government investigations, financial crime/AML-related inquiries, civil litigation and prosecutions.
ZEK’s David Chenkin quoted in American Banker Article, “FIFA Scandal Will Test Banks’ Anti-Money-Laundering Liability” By David B. Chenkin | May 28, 2015 Thursday, May 28, 2015 — Today’s American Banker quotes ZEK’s David B. Chenkin in an article concerning the recent indictment of certain FIFA officials by the United States Department of Justice. The indictment against FIFA, the international soccer organization, contends that more than $150 million in bribe money to FIFA illegally flowed through the U.S. financial system for more than two decades. While the 161-page indictment identifies 26 banks, none have been accused of any wrongdoing. As noted by Mr. Chenkin, several of the bribe payments were designed to evade money laundering detection and controls: “According to the indictment, the alleged scheme was structured to avoid detection,” said David Chenkin, a partner at Zeichner Ellman & Krause. “One way to avoid detection of illegitimate transactions is to make them appear similar to the normal and expected account activity of an entity.” Article link: American Banker Article For nearly forty years, Mr. Chenkin has represented global corporations and senior executives in complex litigation and government investigations. He has counseled clients in many significant investigations conducted by the United States Congress and by federal, state and local prosecutors and regulators. Chenkin is nationally recognized for expertise in anti-money laundering (“AML”)/financial crime compliance and is certified as an Anti-Money Laundering Specialist by ACAMS (which is not affiliated with any governmental authority). He also frequently collaborates with other firms whose clients face government investigations, financial crime/AML-related inquiries, civil litigation and prosecutions.