Banks may become litigation targets when funds or securities broker dealers that maintain accounts at their institutions are involved in fraud cases or other illegal activity and law enforcement or other private litigants seek restitution of lost funds. The panel will discuss some of the challenges that banks face when dealing with other financial entities such as hedge funds, private equity firms and broker dealers in securities.The panel will also address new regulations requiring banks to conduct sufficient due diligence to identify existing or potential clients that may be engaged in internet gambling activities. Hear also about the Internal Revenue Service’s announcement on its intent to increase its focus on 1441 (Non-Resident Alien Withholding & Reporting) compliance with the expectation that banks will leverage their AML customer due diligence practices. Finally, attendees will also learn about specific due diligence considerations that must be considered in merger and acquisition transactions.