- Employer Retaliation Attorneys
- Family and Medical Leave Act (FMLA) Lawyers
- Florida Civil Rights Act
- Exotic Dancers & Strippers Often Paid Incorrectly
- USERRA Law, Rights & Regulations
- Florida Teachers Owed Bonuses
- FedEx Drivers, Amazon Drivers, and Couriers May Face Wage Theft
- Pension Benefits
- EEOC Claim Representation
- How to Hire the Best Employment Attorney Near Me
- How to Hire the Best Employment Law Attorney Near Me
- Who does FMLA cover?
- What You Should Know About USERRA Regulations
- How to Deal With an Unlawful Workplace
- Defamation of Character Lawyers
- Sexual Harassment
- Employment & Workplace Discrimination Lawyers
- Wrongful Termination
- Family and Medical Leave Act (FMLA) Lawyers
- Is Tip Pooling Legal? The Definitions of Pooling, Sharing, And Tipping Out
- How Pizza Delivery Drivers Miss Out on Wages
- Amazon Lawsuits
- What Do I Do if I Witness Workplace Violence?
- How Does the FMLA Define “Family Member”?
- What Is the Penalty for an Employer Not Paying Overtime?
- Legal Process for a Ruined Reputation
- What Should I Do With Discrimination at Work?
- What Should I Do With Discrimination Outside of Work?
- Why Isn't My Employer Paying Overtime?
- What Is the Punishment for Defamation of Character?
- What Is Considered Slander?
- How to Determine Overtime Pay
- How Much Can You Make as a Pizza Delivery Driver
- What Is the Legal Process for Hiring Discrimination?
- What Are Some Common Unpaid Overtime Settlements?
- What Is the Salary of a FedEx Courier?
- Can You Sue for Slander?
- How Should I Settle Work-Related Disputes?
- What Should I Do if I Get Into a Fight at Work?
- Do I Need an Attorney for a Slander Lawsuit?
- Do I Need a Lawyer for My Defamation Case?
- What Should I Do if I'm Fired for Retaliation?
- Where Can I Find Wrongful Termination Lawyers With a Free Consultation Near Me?
- Who Is Liable if Your Identity Is Stolen?
- How Do I Know if I Was Falsely Accused of Something?
- What Should I Do if I Was Wrongfully Terminated?
- Who Is Exempt From Overtime Pay?
- When Should I Contact an Overtime Lawyer?
- Can You Sue a Company for Sexual Harassment?
- What Are Illegal Working Hours?
- Can I Sue for Illegal Working Hours?
- What Should I Do if I'm Treated Unfairly at Work?
- Where Should I Go if I'm Treated Unfairly in a Professional Setting?
- What Should I Do If I'm Accused of Libel?
- Where Should I Go if I'm Accused of Libel?
- Can I Sue My Employer for False Accusations?
- Is Pizza Delivery a Dangerous Job?
- What Should I Do if I'm Verbally Threatened?
- How Should I Handle Unfair Treatment at Work?
- How Many Times Can You Be Denied for Disability?
- What Are Some Examples of Unfair Labor Practices in the Workplace?
- Can You Fire Citizens With Disability?
- Where Can I Find the Best Racial Discrimination Lawyers?
- Oral Defamation vs Libel: What Do I Need to Know?
- What Is the Employment Law Related to Hiring, Firing, and Discrimination?
- Can You Sue Someone for Racial Discrimination?
- How Should I Handle Defamation From a Previous Employer?
- What Are the Labor Laws for Not Paying Employees?
- What Qualifies as Wrongful Termination?
- What Are Some Examples of Libel?
- Are Tips Illegal in the United States?
- Can I Sue for Reputation Damage?
- What is the Definition of Wrongful Termination?
- What Is Defamation of Character?
- Where Should I Search for My Unpaid Wages?
- Wage Laws for Waiters: What You Need to Know
- What is USERRA? Our Lawyers Explain
- Truck Driver Labor Laws
- Retaliation & Legal Examples
- Forklift Accident Lawyers
- Employee Rights and Responsibilities Under FMLA
- Executive Compensation Lawyers
- Process for Hiring Employment Lawyer
- Does Verbal Abuse Qualify for a Lawyer?
- Does Pizza Hut Pay Weekly?
- Do I Have an Employment Discrimination Case?
- Can an Attorney Help With Discrimination in the Workplace?
- COBRA Rights
- Can You Sue a Company for Not Paying You?
AMLs
When you spend the workday making sure money’s being properly moved and preventing crime, you might forget to look at your own paycheck. But even though anti-money-laundering professionals — AMLs, also known as BSAs (after the Bank Security Act), KYCs (know your client), as well as consultants or analysts — are white-collar workers, they are typically overtime eligible. Unfortunately, such workers are often susceptible to wage theft. It’s just often overlooked.
For these employees, what does wage theft look like?
AML Overtime Issues
According to the Fair Labor Standards Act (FLSA), most employees who work over 40 hours in a workweek are owed overtime pay, which should equal time and a half. However, employers often misclassify their workers to avoid paying overtime: That’s illegal.
For AML specialists, misclassification likely means you are labeled as an independent contractor and paid straight time (essentially, your hourly rate instead of time and a half) for all the hours you work, including overtime hours.
Other AML, BSA, and KYC workers often face a different wage theft issue — while they may be salaried (not labeled as independent contractors), employers may say they’re overtime-ineligible or “exempt” from the overtime rules which apply to the vast majority of workers. The problem? Chances are, these workers are entitled to overtime pay and that the limited exceptions to the overtime laws are inapplicable.
In order to be exempt under the so-called “administrative exemption,” the employee’s primary duties must include certain responsibilities that include independent judgment and discretion with respect to significant matters. However, companies often have stringent and required policies, procedures and manuals which AML workers must follow, and federal guidance dictates that discretion must be more than just following well-established techniques or manuals.
Classifying anti-money-laundering analysts under the administrative exemption is likely an abuse and violation of the FLSA and its implementing regulations. And it means workers are not being paid the legally mandated amount that they have earned.
Why These Unpaid Wages Matter
While missing out on a few hours of overtime each week might seem like a small sum, it adds up. AMLs who aren’t properly paid overtime may be losing tens of thousands of dollars each year. That can translate to the loss of tens or even hundreds of thousands of dollars over the course of their career. Many AMLs have faced this issue in the past. It’s important to protect yourself as well as recover the money you earned and deserve for your hard work.
AMLs, BSAs, KYCs, and other financial consultants and analysts may be eligible to recover unpaid wages from their employers. If you believe you’re underpaid due to shady employer practices, reach out to one of our employment attorneys for a free and confidential case evaluation.
If you’re worried about workplace repercussions for taking action on unpaid wages, state and federal labor laws strictly forbid employers from retaliating against employees. That includes reprisals for speaking with a lawyer about potential labor violations. Retaliation is illegal. Getting paid a proper wage is not only legal, it’s your right.