Anti-money laundering has become a critical compliance and business issue. Along with costly litigation, large fines and long prison sentences, successful penetration by money launderers can cause incalculable damage to jurisdiction and corporate reputations, and professional careers.
Although a number of financial institutions have had anti-money laundering (AML) and economic crime control programs for quite some time, many still do not have sustainable, cost-effective processes. Boards and senior management are increasingly seeking to build integrated, risk-based and efficient AML compliance control programs.
Not only are institutions concerned about avoiding enforcement actions or remedying weaknesses and failures, many are learning that by treating these initiatives as long-term investments, they can capitalize on these opportunities.
If this is your situation
You want to create an effective, efficient and sustainable AML compliance control program, leveraging technology and using the right tools.
You need to improve the function and performance of your automated suspicious activity monitoring systems and processes.
You would like to improve the quality of AML internal audits.
You need to design and implement effective customer due diligence processes.
You would like to train directors, senior executives and employees on topics ranging from specific aspects of compliance to regulatory expectations and industry trends.
You want to create leading-edge customer risk models.
How PwC can help you
At PwC we have professionals that perform money laundering vulnerability assessments, compliance program evaluations, and gap analyses. We can develop a recommended approach for reducing risk, enhancing risk management, and implementing operational solutions.
We can also work with you to help you gain greater confidence that your AML compliance controls are specifically designed, efficiently implemented, and sufficiently robust to effectively manage their multitude of risk and regulatory requirements.