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.

Investment advisers, broker-dealers, and other financial services firms are required to adhere to various anti-money laundering (AML) laws and regulations and develop AML programs to mitigate the regulatory, reputational, and operational risks associated with their businesses.  These firms must also consider anti-bribery regulations, the Foreign Corrupt Practices Act (FCPA), Bank Secrecy Act (BSA) regulations, Office of Foreign Assets Control (OFAC) compliance obligations, Financial Industry Regulatory Authority (FINRA) rules, etc.

o   Risk Assessment

o   Development/Review of Anti-Money Laundering Policies and Procedures

o   Independent Testing of AML Program

o   AML Compliance Training

Whether you are an investment adviser, broker-dealer, or a money services business, Coast to Coast Compliance can conduct an AML risk assessment and assist your firm to develop AML policies and procedures, or review and enhance your firm's existing AML policies procedures. Coast to Coast Compliance can perform an independent annual review of the effectiveness and implementation of your AML Program, documenting the scope of the review, procedures performed, testing completed, findings of the review, and any recommendations.  

Coast to Coast Compliance can also provide initial AML training for your staff, as well as ongoing training as necessary to reflect any new developments in the law.  AML training includes, among other topics: (i) how to identify red flags and signs of money laundering; (ii) what to do once the risk is identified (including how, when, and whom to escalate unusual customer activity or other red flags for analysis); and (iii) what employees' roles are in the firm’s compliance efforts and how to perform them.

If you have any questions about Coast to Coast Compliance or would like to know more about how we can help your firm, please reach out to us.
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