Firms need effective anti-money laundering (AML) and sanctions compliance systems and controls to protect themselves from regulatory scrutiny, business risk and reputational damage. Policies and procedures need to be up to date and staff suitably trained. A risk based approach is prescribed by the regulators but this should tie in to a firm’s commercial objectives.
We have provided regulatory consultancy services in this area to a wide range of firms such as hedge fund managers, retail wealth managers, private equity firms, institutional brokers and corporate finance advisers.
Our team of experts can provide the following key offerings:
- Independent reviews of your AML approach to help you understand your AML risks, identify gaps and focused remedial action whilst taking a pragmatic approach
- Advice to ensure that AML procedures groove together with other customer due diligence requirements
- Evaluation of transaction monitoring procedures and systems ensuring that duplication of regulatory effort is reduced
- Training and awareness programs to raise internal AML awareness and culture
- Ensuring your AML and sanctions compliance processes meet national and international regulatory requirements
- Advice on technology solutions
- Reviews of records and documentation