Anti-Money Laundering Programs, Independent Testing, and Training

A strong anti-money laundering program can mitigate the regulatory, reputational, and operational risks associated with your business.

The regulatory landscape

Investment advisers, broker-dealers, and other financial services firms are required to adhere to various anti-money laundering laws and regulations and to develop AML programs that address the risks their businesses carry. Firms must also consider anti-bribery regulations, the Foreign Corrupt Practices Act, Bank Secrecy Act regulations, Office of Foreign Assets Control obligations, and FINRA rules.

What we provide

• AML risk assessment
• Development or review of anti-money laundering policies and procedures
• Independent testing of the AML program
• AML compliance training

Program development and review

Whether you are an investment adviser, broker-dealer, or money services business, Coast to Coast Compliance can conduct an AML risk assessment and help develop AML policies and procedures, or review and enhance your firm's existing ones. This work often runs alongside a broader review of your compliance policies and procedures.

Independent testing

Coast to Coast Compliance performs an independent review of the effectiveness and implementation of your AML program, documenting the scope of the review, procedures performed, testing completed, findings, and any recommendations. Testing is meaningful only when the reviewer is independent of the AML function, which is why many firms bring in an outside party.

Training

We provide initial AML training for your staff, which can run standalone or as part of firm-wide compliance training, plus ongoing training as necessary to reflect new developments in the law. AML training covers, among other topics:

• How to identify red flags and signs of money laundering
• What to do once a risk is identified, including how, when, and to whom to escalate unusual customer activity
• What employees' roles are in the firm's compliance efforts and how to perform them

Requirements differ by firm type and have been the subject of active rulemaking. To confirm what applies to your registration status, contact us.