Regulated firms are required to implement, administer, operate and review AML programs. Some outsource this while others handle this in-house. The true test of an effective AML program is in the employment of robust account opening procedures, verification of identity and source of funds checks, training, regular and annual “Know Your Customer” activities, suspicious activity detection, investigation and reporting and proactive director oversight. Our experience includes serving as MLRO and establishing AML programs.
We can work with you to:
- design and implement an AML program
- review and improve your current AML program
- review your reporting and monitoring procedures
- conduct independent reviews of AML programs and report to Boards of Directors
- recognize and respond to cross-border issues and regulatory requirements
- train Boards of Directors, MLRO and key staff
- integrate your AML program into your overall oversight process