VIDEO | Criminals, terrorists and sanctions: A Latin American legal take on cross-border risk - Trade Treasury Payments

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At the ITFA Americas Annual Conference in Miami, Trade Treasury Payments (TTP) sat down with Marcos Lopez Bonilla, Senior Corporate Counsel at EPGD Business Law, to explore how legal advisory work is evolving amid shifting compliance demands, cross-border complexity, and the growing role of artificial intelligence.

Lopez Bonilla said, “A lot of our work involves helping Latin American financial institutions, particularly those in Ecuador, Colombia, Guatemala and Honduras, navigate the US regulatory framework. That includes everything from remittance providers and money  services businesses to banks looking to establish a presence here.”

While the broader macroeconomic landscape has undoubtedly added pressure, many of his clients remain focused on the core question of ensuring compliance while building a sustainable operation in the United States. According to Lopez Bonilla, this increasingly requires clarity around how US law treats different forms of risk.

One key area of change has been in the treatment of OFAC sanctions versus foreign terrorist organisations (FTOs).

Lopez Bonilla said, “There’s a notable difference in the liability structure. If a party in, say, Mexico, ends up transacting with an FTO, they may face criminal proceedings, even if they’re not based in the United States. So, for Latin American counterparties, that creates a heightened risk and leads to more robust compliance controls.”

For legal practitioners, that has meant an uptick in due diligence requests and onboarding reviews, particularly for clients working in high-risk jurisdictions or sectors. And while that work can be complex, Lopez Bonilla believes it’s necessary, and points to it as an example of how regulatory decisions are shifting risks in subtle but important ways.

Yet the conversation wasn’t all about compliance and sanctions. A panel on legal technology and artificial intelligence also left a strong impression.

Lopez Bonilla said, “The legal industry is often slow to change. But if we don’t start integrating tools like AI into our workflows, we risk falling behind. Used properly, these technologies can actually make us better at serving clients, by systematising legal knowledge and enabling more consistent support.”

He stressed that lawyers who understand both the legal content and the logic of how AI tools work are well-positioned to create applications that help clients answer questions faster, without always relying on billable hours. The result, he argued, is augmentation.

His broader message to the industry was one of proactive engagement with change.

Lopez Bonilla said, “Don’t fear change, but be wary of it. Be proactive. Things are moving quickly, and if your compliance programmes and internal controls don’t adapt, you could find yourself exposed. Business as usual is no longer safe.”

For cross-border legal advisers, that message rings particularly true. Whether dealing with sanctions, remittances, or artificial intelligence, the challenge is to keep pace or fall behind.