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AML SUPPORT
Our Softek Compliance team has managed Anti-Money Laundering (AML) responsibility requirements since the inception of the Patriot Act. We understand the evolution of AML programs, which allows us to go back to the basics, performing at the level of sophistication required in today’s challenging environment. In addition, we have specialized knowledge in implementing, maintaining, and enhancing our clients’ programs based on our own independent reviews and risk assessments. Our services are not “one size fits all” we take tremendous pride in providing unique solutions to meet each of our clients’ needs.
HIGHLIGHTS INCLUDE:
FAMILARITY & EXPERTISE
DISRUPTOR FINANCIAL PLATFORM APPLICABILTY
Compared to alternatives, our ability to offer affordable seasoned AML professionals is second to none. Our experts’ experience allows efficient implementation into any business, immediately creating a positive impact.
Due diligence is required, and may be even more important, for financial companies who can be labeled as “disruptors”. With extensive knowledge of Customer Identification Programs (CIPs), our team can consult your firm on the best approach specific to your operations. We may also assist in the discovery and reporting of red flags to senior management, the AML-CCO and the CCO for review. The Softek Compliance team has the expertise to guide FinTech companies in their creation of rules and regulations regarding technology. In addition, we can assist FinTech disruptor companies on the specific types of reports and testing that should be produced to ensure it performs within regulations. We have previously advised on both front-end and back-end systems, allowing us to work on a broad range of tasks your company may have.
ANNUAL OR PERIODIC AML RISK ASSESSMENTS
Our team is able offer risk assessments that can be customized to the client’s interest and can be completed on an annual, quarterly, or as needed basis. Any written supervisory procedures provided as a result of a risk assessments can also be customized per business line. This includes but is not limited to reviews of policies and procedures, detailed review of clients’ business models, review of AML risk assessment methodology by business line, transactional regions of risk and detailed sampling of client on-boarding information for testing purposes.
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