Anti-money laundering services
Looking for expert assistance to help you manage money laundering risks?
We notice that many financial institutions still believe that the money laundering legislation is all about identifying clients and refering suspicious transactions to the Financial Information Unit. They do not take into account that article 4 § 2 of the law of 11 January 1993 (NL / FR) refers to the need to observe constant diligence regarding business relationships and to examine performed transactions carefully.
It is clear that without monitoring, financial institutions may be unable to distinguish suspicious from normal transactions. There is no doubt that non-compliance with 'know your customer' procedures and lack of monitoring of client transactions can lead to presumption of involvement, which may cause serious reputation risks.
Large financial institutions that have just acquired anti-money laundering (AML) software (or plan to do so) can benefit from our long-time experience in project management and software implementation. Furthermore, we believe that small and medium-sized financial institutions do not need to acquire expensive AML software, since we can assist them in developing their own customised AML queries, thereby remedying high numbers of false positives through the use of client segmentation technology.
In addition, the Belgian anti-money laundering law of 11 January 1993 (NL / FR) also mentions the legal obligation to provide anti-money laundering training to its employees. We can assist you in fulfilling these obligations by providing customised AML training.
Please contact us to discuss the need for AML solutions or training in your organisation.
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