The focus on AML by regulators both in the UK and the US continues, as seen by the penalties that are escalating into millions of pounds. There has never been a greater need for management to demonstrate effective, risk based anti-money laundering (AML) strategies.
How we can help
Anti-money laundering is part of our unique financial crime offering. We have extensive experience in leveraging our global anti-money laundering team to provide tailored solutions to many leading financial institutions as well as smaller organisations.
We offer advisory services across the entire lifecycle of AML compliance, drawing on the breadth and depth of our AML capability to provide a comprehensive, tailored service. We regularly work with Financial Crime and Compliance departments whose concerns with AML overlap with issues related to Trade and Economic Sanctions, Fraud, Bribery and Corruption.
Our services include:
- Policy & Procedures Benchmarking – finding a model which meets regulatory requirements and is aligned to the firm’s risk appetite.
- Risk Assessment – detailed consideration of the key risks factors and the impact on mitigation plans and controls.
- System Optimisation – including specification/selection of transaction monitoring systems, CDD systems and fine-tuning of these in operation.
- CDD & SAR Retrospective Reviews – including clearing backlogs, “refresh and/or remediation projects”.
- Training – both input to firm-wide training and in-depth sessions for dedicated professionals.
- Compliance Reviews – identification of how well a firm is meeting regulatory requirements, including mock ARROW visits, support during or before s.166 reviews and preparing and supporting the firm for every eventuality.