- The Washington Times - Sunday, October 26, 2003

Former Federal Reserve Bank examiner Frederick Curry III is helping banks comply with additional antiterrorism and anti-money-laundering laws.

Mr. Curry, 41, joined the D.C. office of national law firm Katten Muchin Zavis Rosenman as counsel and senior director for the firm’s anti-money-laundering practice.

He advises financial groups from international institutions to smaller community banks on how to set up, monitor and independently test compliance programs required by the Bank Secrecy Act and USA Patriot Act.

Those laws require banks to enhance their domestic security systems and surveillance procedures to detect and report money laundering or terrorism financing.

“In the late ‘90s, bank examiners started looking much more closely on how banks were complying with these laws. The increased focus really requires a bank to have an effective and sophisticated program in place,” he said.

Mr. Curry joined the law firm after spending five years at the Federal Reserve Bank of New York, which works within the Federal Reserve System to implement monetary policy, supervise banks and maintain the nation’s payment systems.

He most recently was an examiner-in-charge in the anti-money-laundering unit, delving into complex operations of domestic and foreign banks to ensure their compliance.

Mr. Curry also tested and identified the capabilities of banks meeting federal laws such as the USA Patriot Act and the Office of Foreign Assets Control regulations, which requires banks to block accounts of certain countries, entities and individuals.

The move to the law firm was “the next logical step in my career path,” said the Brooklyn Law School graduate.

“I wanted to step up my background in regulation compliance by taking a more legal perspective,” he said.

Mr. Curry already was representing an international banking organization in his three weeks at the firm, though he would not disclose the company name.

Carol Van Cleef, a partner in the D.C. office and head of the firm’s anti-money-laundering practice, said she picked Mr. Curry because of his specialized bank experience and law degree.

“Fred is a nice addition to our group. He is one more example of how our law firm is branching out to find lawyers who have substantial hands-on compliance experience in their field,” she said.

Mr. Curry commutes and teleconferences to the D.C. office from his New York home.

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