Anti-Money Laundering (AML) Compliance

AML compliance for today and beyond

Protiviti provides a wide variety of consultative services and AML solutions designed to assist organisations in all aspects of AML/Combating the Financing of Terrorism (CFT) compliance, in addition to conducting transaction monitoring, and Know Your Customer (KYC) reviews.

Assist organisations in all aspects of AML

Design and implement AML/CFT risk and sanction risk assessments

Assist clients with the design and implementation of AML/CFT and sanction risk assessments that are foundational to effective AML compliance programs. We also work with our clients to ensure the proper alignment between their risk assessments and their overall AML/ CFT and sanction compliance programs and to introduce and leverage innovative technologies to improve efficiency.

Program development and remediation

Help clients with the development and/or enhancement of all aspects of their AML/CFT and sanction compliance programs including, but not limited to, risk strategy and risk appetite statements, policies and procedures, job descriptions, staffing analyses, and board and management reporting.

AML/CFT and sanction system selection, implementation and utilisation

Assist in the selection of compliance technology systems and tools to support ongoing AML/CFT and sanctions monitoring. This includes vendor review and comparison, assessment of current and future business and functional requirements, data lineage and validation, system optimisation, implementation support, pre-and post-implementation reviews, system validation, transaction monitoring, source of funds review and overall system project planning and management.

Money laundering reviews and investigations

Assist clients in performing regulator-mandated reviews and provide regulatory guidance on transaction monitoring, source of wealth and Know Your Customer (KYC) reviews using our proprietary workflow and data analytics tools to help organisations comply with the guidelines of AML regulator AUSTRAC. We also identify and transactions in-scope, code the desired rules and scenarios, determine the appropriate thresholds, and generate alerts, which our investigation specialists review to determine whether any suspicious activity is present.

DFS Part 504 compliance

We assist financial institutions with all aspects of their Part 504 compliance efforts, from internal training and awareness, program development, program management, program documentation, model validation, data lineage and validation, control testing, and design of certification and sub-certification processes.

Independent testing of AML program

We assist organisations with the development, implementation and delivery of AML/CFT and sanctions training that is customised to reflect a company’s primary business activities, customer profile, current AML/CFT and sanctions knowledge base and internal procedures.

Focused training

Assist organisations with the development, implementation and delivery of AML/CFT and sanctions training that is customised to reflect a company’s primary business activities, customer profile, current AML/CFT and sanctions knowledge base and internal procedures. Customised and relevant AML/CFT training provides the basis for a successful AML/CFT and sanctions compliance program.

AML and sanctions model validation and optimisation analytics

We work closely with our data and advanced analytics practise to provide our clients with independent model validation for all AML and sanctions related models, perform AML and sanctions model tuning and threshold/matching score setting, provide advanced data validation and AML analytics, advise on scenario and alert optimisation, and assist with transaction monitoring scenario development, testing, and supporting documentation.