Our Anti-Money Laundering (AML) Compliance Services detects and deters money laundering.
Risk Assessment
MBAF helps banks conduct an analysis and categorization of customers, correspondents, transactions, lines of business, products, and business locations to assess areas of vulnerability and determine the best uses of limited financial, human, and technical resources.
Monitoring
By documenting a clear audit trail relative to work performed, MBAF helps banks clearly establish and document the true identity of their customers and correspondents, including beneficial owners. In addition, they should document the source of a customer's wealth and have processes in place for anticipating the nature and value of a customer's or correspondent's expected transaction activity. We also help identify unusual transactional activity. Banks may implement commercially available software, leverage existing surveillance systems, or develop new systems to fit their needs. Whatever the case, the AML compliance program includes exception reporting processes that address the investigation, escalation, and resolution of suspicious activity.
Compliance Infrastructure
MBAF helps banks determine if their current AML structure adequately addresses their needs, which may have changed over time due to a shift in market strategy, merger or acquisition, or an investment in a new line of business. We also ensure that USA PATRIOT Act compliance is built into a solid AML program foundation.
Training
Banks also require effective training programs that address USA PATRIOT Act requirements, provide realistic case studies and scenarios, and are relevant to the roles and responsibilities of the audience. Our training programs can be quickly customized to meet your specific needs and address all entities regulated under the USA PATRIOT Act.
