AML Investigations Compliance and Advisory
With the credit crisis, global recession and ongoing global terrorism activity, financial institutions are under tremendous pressure to be vigilant in monitoring and identifying suspected illegal activity. As a result, many organizations are re-evaluating their anti-money laundering (AML) compliance programs.
Navigant’s AML professionals bring to bear critical expertise and resources to help clients identify, assess and manage the risks associated with money laundering and terrorist financing.
Click here to read our insights on FATCA.
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The Foreign Fund’s FATCA Dilemma: Meeting Your Responsibility by Coordinating with Third Party Service Providers
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Meeting the New FATCA Deadlines: A Phased Implementation Approach to Compliance
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Managing the Risks of Master/Sub-Account Relationships
CASE STUDY:
Transaction Monitoring Look-back
Navigant conducted a transaction look-back for a global bank that encompassed more than 20 million transactions occurring over a two-year period. We collaborated with the bank and its regulators to identify, develop, and apply money laundering and risk assessments to more than 10 million of those transactions. These assessed transactions were grouped into Navigant’s proprietary case management system, which provided a virtual and real-time workspace for the look-back analysts and the bank. Navigant also developed customized investigative protocols to expedite case review and quality assurance and prepared findings for cases requiring Suspicious Activity Reports (SARs) filings. Consequently, the 20-million-transaction, two-year look-back was reduced to just 5,000 investigative cases. The SAR filings and other dispositions related to those cases were completed in just a few months.