Domestic and international anti-money laundering (AML) laws and regulations evolve and change rapidly. The burden on your compliance and reporting procedures can be high, as well as it affecting how you do business.
Regulators and prosecutors are taking action against organizations that do not have effective AML systems and controls. Furthermore, companies must screen clients and targets in order to comply with the Federal Act on the Implementation of the International Sanctions (Embargo Act). Compliance legislation is expanding locally and internationally, for instance with regard to competition law.
The risks are many and diverse.
- Conduct a gap analysis
- Obtain advice on best practice
- Secure access to practical monitoring solutions
- Provide AML training and awareness to management and staff
- Revise or more effectively implement your internal AML policy
- Conduct an unbiased internal investigation based on money laundering suspicions
- Implement an AML transaction monitoring system, or improve your existing system
- Acquire more detailed background information on your high-risk clients
- Ensure the target organization in a mergers & acquisitions context has effective policies and processes, and knows who its customers really are