Services
Anti-Money Laundering
Addressing the full spectrum of anti-money laundering challenges
Governments worldwide are continuing to amplify their efforts to crack down on money laundering and terrorist financing activities. For global companies, these activities can be challenging to monitor and investigate, especially when scrutiny can arise at any moment. From severe fines to reputational risk, organizations operating across borders and in jurisdictions with divergent laws face significant challenges in the global landscape.
We support our clients across the full spectrum of Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) challenges. We routinely leverage deep technical knowledge and industry-leading tools on Anti-Money Laundering (AML), lookback and Counter-Terrorist Financing (CTF) investigations, white-collar crime and fraud investigations, Anti-Bribery and Corruption (ABC) matters, and other critical legal, regulatory, and compliance projects.
Whether developing comprehensive compliance programs, responding to regulatory investigations, or identifying and reporting suspicious activity, our team provides the technical guidance and practical solutions that instill confidence and deliver transparency to you, the Board, and your Regulator.
Offerings
- Perform AML model validation, testing, and tuning.
- Conduct independent compliance tests including independent AML reviews, consumer and lending compliance reviews, Automated Clearing House (ACH) reviews in accordance with National Automated Clearinghouse Association (NACHA) rules, and bank partner due diligence reviews.
- Innovate and automate AML monitoring systems to aid in fulfilling law enforcement requirements in a more efficient and effective manner.
- Act as the internal compliance function for clients by implementing and maintaining the company’s compliance program and assisting in performing day-to-day compliance operations tasks.
- Prepare and file regulatory reports such as FinCEN registrations and renewals, Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), and Foreign Bank and Financial Accounts (FBARs).
- Develop, enhance, and facilitate AML training.
- BSA/AML Program Gap Review
- We are globally recognized experts in reviewing and assessing BSA/AML programs to determine adherence to regulatory guidelines, standards, best practices, as well as internal policies and procedures. We also perform thorough risk assessments to evaluate high-risk customers, transactions, or product lines.
- Draft, evaluate, and enhance policies and procedures, compliance and audit programs, and governance and oversight frameworks.
- Creation and implementation of remediation plans.
- Fintech/Crypto Reviews
- We review every facet of the BSA/AML programs of cryptocurrency platforms and Fintechs. We recognize that Fintechs and cryptos are not traditional financial institutions and need programs that align new products/services with current regulatory requirements and a risk-based approach, while also understanding the need for a scalable compliance framework that can expand as your business grows from a start-up to a mature organization.
- Customer Identification & Know Your Customer (KYC) Program Review
- We evaluate customer intake workflows to determine efficiency and regulatory compliance. We also remediate customer identification programs or KYC backlogs.
- Transaction Monitoring Reviews
- We partner with clients to evaluate the current state of their Business-As-Usual transaction monitoring workflows to tune for efficiency and develop key performance metrics to maximize quality assurance for peak efficiency and effectiveness. We are experienced in addressing and resolving alert backlogs as well as designing and implementing regulator mandated lookback reviews; our team of AML analysts conducts thorough reviews of transaction data to determine suspicious activity and recommend transactions and customers for suspicious activity reports (SARs).
- Required Independent Audit Reviews
- Our subject matter experts execute independent testing and audit functions, ensuring you adhere to local rules and regulations to meet the regulatory requirement for an independent review.
- Independent Investigations & Regulatory Reporting
- Drawing on multidisciplinary resources, we perform thorough independent investigations by working with our clients to identify areas of inquiry and implementing a work plan focused on the key issues. Our accomplished team also provides regulatory reporting.
- Facilitate communications with relevant stakeholders and local authorities.
- Advise and assist with the implementation of regulatory requirements, internal operational standards, and best practices.
- Assist in the preparation for regulatory exams.
- AML Analytics & Data Optimization
- Our team develops advanced analytics programs for transaction testing, risk assessments, and lookback reviews. Our customized and interactive visual dashboards facilitate reporting automation and case management.
- Exam Management Services
- Our team has direct financial institution experience managing hundreds of exams, presenting to examiners, and developing presentations to put your exam on the path to success.
- Lookback Reviews
- Our team of AML analysts conducts thorough reviews of transaction data to determine suspicious activity and recommend transactions and customers for suspicious activity reports (SARs). When needed, we interface with regulators on behalf of clients so they can remain focused on their core business operations.
- Alert & Case Backlog Support Programs
- We partner with clients to evaluate the current state of their transaction monitoring workflows and develop key performance metrics to maximize quality assurance for peak efficiency and effectiveness.
- Provide investigative support to clear alert backlogs.
Our Latest Thinking
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Global Financial Institution
Analyzing 149 Million Customer Records & 1.5 Billion Transactions for Suspicious Activity
As part of an agreed-upon consent order with a regulator, a financial institution was required to perform a lookback at 18 months of prepaid debit card transactions. An Ankura team of over 150 analysts and data specialists reviewed transaction data of over 149 million customers and 1.5 billion transactions from over 20 sources. At the time of the review, the bank did not have a functioning transaction monitoring system in place. As a result of the investigations performed, over 17,000 SARs were filed by the bank, fulfilling the consent order.
The Ankura Difference
Ankura is a trusted, independent partner to governments, law firms, and financial institutions in the global war on money laundering and terrorist financing. Our professionals with significant public service experience, who maintain strong working relationships within the U.S. Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC), and other agencies, routinely assist clients in navigating government enforcement inquiries.
Key Contacts
- Lee Hale
Senior Managing Director
London, England
- Marie Gervacio
Senior Managing Director
Hong Kong SAR, China
- Andrew Pimlott
Senior Managing Director
Dubai, United Arab Emirates
- Peter Glanville
Senior Managing Director
Hong Kong SAR, China
