Anti-Money Laundering

Our professionals have many years of experience providing AML services to a broad range of financial institutions and a deep understanding of AML laws, regulations and compliance practices. We have experience leveraging data analytics technology to identify high-risk transactions, screen customers and counterparties. We work with clients to customize their historical risk thresholds and transaction monitoring rules to ensure the client’s AML profile adapts to the ever changing challenges. Based on our practical experience conducting forensic accounting investigations domestically and internationally, we have in-depth of knowledge of the stages of money laundering: placement, layering and integration, as well as complex money laundering techniques that may involve front businesses and shell companies set up to handle large amounts of cash.

Compliance Program Development, Audit and Testing: We work with clients to develop a customized AML compliance program that meets regulatory requirements and that aligns with the organization’s risk profile and business objectives. If an organization already has an AML compliance program in place, we conduct independent AML audits and testing to evaluate the effectiveness of that existing AML program. We identify and help mitigate any potential gaps or deficiencies.

Risk Assessment: We conduct a comprehensive risk assessment of an organization’s AML program to identify potential vulnerabilities and provide recommendations for risk mitigation. This includes customer identification programs, such as know your customer (KYC) and ongoing Customer Due Diligence, to verify that deposited funds are from legitimate sources and to monitor customers with higher levels of risk. As required by the U.S. Office of Foreign Assets Control (OFAC) and other regulators, we compare customers against lists of politically exposed persons (PEPs), as well as sanctioned individuals, companies, institutions and countries.

Training and Education: We provide AML training to employees, board members and senior executives to ensure they are up-to-date and knowledgeable of AML regulations. Proper anti-money laundering training is a regulatory requirement that has benefits such as reducing the probability of an organization to be associated with poor AML controls or with other forms of financial crimes that, in turn, could adversely affect its reputation in the marketplace.

Monitoring and Reporting: We provide ongoing AML monitoring and reporting services to help detect and report suspicious activity. We have experience uncovering transactions that exceed reporting thresholds with no apparent business purpose, such as high-risk jurisdictions, velocity of transactions or other red flags. We also have assisted clients to improve the overall identification, processing and review of Suspicious Activity Reports (SARs). We have extensive experience with financial institutions, real estate companies, casinos and other organizations that are required to comply with AML regulations.