AML - KYC Solutions
Anti-Money Laundering policies, procedures, and technologies play a significant role in the fight against fraudulent money transfers and connected white-collar crimes.
Government and Regulators are coming down heavily on financial institutions and organizations to ensure that there are proper monitoring and reporting mechanisms to prevent money laundering.
Financial Institutions are expected to guarantee continuous monitoring of all transactions channeled through them and ensure that money laundering does not happen. It is necessary for organizations to perform a money laundering and terrorism financing risk assessment, followed by creating and maintaining an AML Program Manual. The manual should contain the systems, procedures, and controls that are in place to mitigate and manage the identified risks.
Vertex Compliance offers broad AML related services for our clients. Our Team provides effective tools and techniques to equip your organization to implement the requisite steps of monitoring and control over the transactions and guard against any penal actions of regulators. We assist you in assessing the areas of strengths and weakness in the organizational structure and adopt necessary changes and additions for compliance.
The basic process of setting up an Anti Money Laundering program
Risk Assessment
Perform an organization-wide ML and TF Risk
Design Systems and Controls
Develop AML program and operational procedures
Implementation of AML Program
Operationalize all aspects of the AML program
Assess & Review
Check effectiveness of the program
Vertex Compliance team consists of former compliance officers of reputed financial institutions, Certified Anti-Money Laundering Specialists (CAMS), Attorneys, and Strategic planning professionals.
Services on Offer
Due Diligence Report on Product/Instrument and Delivery Channels
Drafting and Implementation of Internal Policies/Procedures/Codes of Conduct, Manuals, and Circulars
Transaction Analysis and guidance in STR Filings
Risk-based Investigative Due Diligence to identify the company’s customers, subsidiaries, suppliers, brokers, employees, etc.
Mystery shopper services to assess the implementation of compliance programs
Advisory on remediation of fallbacks identified in previous audits or by regulators
AML Lookback Reviews
Audit of existing Transaction Monitoring & Sanctions Screening Design
Compliance Risk Assessment, Audit & Remediation
Customized Internal training to suit the firm's line of business and regulatory requirements.
Records Review and Evidence Analytics
Provide recommendations on Technical Systems for effectively adhering to AML and CTF policies.