Anti-money laundering (AML) and financial crimes scrutiny now goes beyond traditional financial institutions, and AML and economic/trade sanctions remain a high priority for enforcement authorities as weapons against terrorist financing, drug trafficking, and other crimes.
KPMG Forensic professionals routinely assist financial institutions, with assessing the strength of their compliance with Bank Secrecy Act (BSA)/AML laws and the sanctions programs administered by the Office of Foreign Assets Control (OFAC) and other bodies. KPMG’s financial crimes professionals include former regulators, law enforcement officials, prosecutors, and compliance and AML officials from leading financial institutions with years of experience in BSA/AML/OFAC review and enforcement. Our team is fluent in the laws, regulations, and guidance.
KPMG assists clients to further develop and enhance their financial crimes programs to help ensure compliance and effectiveness, as well as efficient delivery across the organization. We work closely with clients to enhance their programs through current-state assessments, looking at the law, regulatory expectations, and the leading practices of peer organizations. We further assess and validate models and technology platforms, which allows us to assist our clients in achieving future state.
KPMG has vast experience assisting organizations in remediating significant breakdowns that may arise, whether self-identified or as a result of regulatory action. This includes performing transaction monitoring investigations and/or lookbacks, sanctions investigations, know-your-customer (KYC) file remediations, fraud reviews, and investigations in response to regulatory inquiry or mandates.