Anti-Money Laundering (AML) Compliance

Anti-money laundering (AML) consulting

Design and implementation of AML/CFT risk and sanction risk assessment

We 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

We 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

We 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

We assist clients in performing regulator-mandated reviews and provide regulatory guidance on transaction monitoring, source of funds and source of wealth reviews using our proprietary workflow and data analytics tools to help organisations comply with Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission of (SFC), Financial Conduct Authority (FCA) and the Insurance Authority (IA) guidelines in Hong Kong. We also identify transactions in-scope, code the desired rules and scenarios and generate alerts, which our investigation specialists review to determine whether any suspicious activity is present.

 

Independent testing of AML programs

We assist internal audit departments in developing comprehensive AML/CFT and sanctions audit programs, including risk assessments, risk and control matrices, audit work programs and training for audit teams. We also perform independent testing of existing AML programs on an outsource or co-source basis and work with or on behalf of internal audit departments to validate actions taken by companies to address regulatory exceptions.

 

Focused training

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. 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 practice 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 and ensure adherence to AML regulations.

 

Regulatory compliance consulting

Our compliance consulting team brings a blend of experience and fresh thinking through a unique mix of former industry professionals, compliance professionals, and financial regulators to effectively manage compliance risk.

 

Financial crime compliance

Protiviti helps compliance officers, board members, and all three lines of defense respond to situations of noncompliance and stay in sync with regulatory changes.