As the number of regulatory inquiries or investigations increase, many cases are now involving US agencies and penalties are escalating into millions of pounds. The costs of ineffectively managing this risk can be significant. There has never been a greater need for management to demonstrate effective, risk based anti-money laundering (AML) strategies.
Developments in the area of AML including Wire Transfer Regulations and the new MT202COV are providing issues for financial institutions as more information around the source of funds is creating new challenges with transactions monitoring and system configurations.
Anti-money laundering is part of our unique financial crime offering. Deloitte has extensive experience in leveraging its global anti-money laundering team to provide tailored solutions to many leading financial institutions as well as smaller organisations.
Our successful track record of managing the threat of money laundering, has given Deloitte first hand experience of the unique challenges organisations face such as:
Our clients come from all sectors including retail banking, insurance, asset management, non-financial services such as trust and company service providers, law firms as well as UK and foreign regulators.