Correspondent Banking AML

Correspondent Banking AML

       Our firm’s business consultants work on AML projects in bank correspondence on behalf of various international banking groups. During these missions, they help the compliance project teams with the implementation of solutions, using different processes and technologies.

THE STAKES

Correspondence banking is considered by the regulators as a high-risk activity because very exposed to money laundering practices. As with all transactions processed by banking institutions, the monitoring of bank correspondence transactions is a regulatory requirement, often transcribed in the bank’s instructions and which must be integrated into the programs for the transformation of plans and tools (Transaction Monitoring Systems – TMS).

Correspondent Banking AML

A GLOBAL CB AML OFFER MODULAR VIA 3 OPTIONS

COMPLETE MISE UPGRADE CB AML OPTION

  • Assess of the AML Surveillance program of the Banking Correspondence
  • Risk identification
  • Risk hierarchization
  • Description of the target to respond proportionally to these risks
  • Full functional, organizational and technical implementation
  • Testing the organization and processes of optimum monitoring andreporting
  • Change management
  • Assessment at 6 months (option)

TUNING CB AML OPTION

  • Adjustment of risk responses by defining the set of scenarios responding to identified risks, among other things to reduce the number of false positives
  • Calibration of scenarios according to “local” specificities
  • Help with the choice and / or adaptation of existing tools
  • Fine tuning of organization and optimum monitoring and reporting processes

AUDITABILITY CB AML OPTION

  • Implementation of regulatory documents as well as auditability tools
  • Definition of the organization and processes to respond to imminent risks and audits
  • Preparation by “internal audit” method
  • Monitoring of the improvement tools / scenarios and method
  • Support in the optimization and quality of the reporting syst
  • 3 months cross-return (option)

SUCCESS STORIES

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