Substantial civil and criminal penalties and Property may be subject to seizure and may be levied against an organization for violation of the Bank Secrecy Act, USA Patriot Act, or other Money Laundering laws.
Our Money Laundering Specialists bring over 120 years of experience in assessing a financial service organization's money laundering practices and in particular, suspicious financial transactions.
Substantial financial penalties have been imposed on financial institutions for poor or ineffective Anti-Money Laundering program as required by Bank Secrecy Act, the USA Patriot Act, and other Federal regulation. Non compliance with anti-money laundering procedures and know your customer requirements can stress an institution's finances and reputation in its local community. In addition, increased regulatory scrutiny as a result of these violations causes management burdens on the financial institution and slows its rate of growth and may expose them to continued prosecution.
Marcum's Anti-Money Laundering Team has extensive expertise in identifying compliance issues, investigating alleged money laundering and evaluating and assisting an entity in preparing Suspicious Activity Reports for a particular transaction or group of transactions. The Team will work through these issues until they are resolved to the satisfaction of the Board of Directors, management, and the regulators, as applicable. The combined experience of our Anti-Money Laundering Team provides the credibility with regulators in an environment with anti-money laundering compliance concerns.
Contact one of Marcum's regional representatives.
Marcum’s approach includes an analysis of business performance against management objectives, an evaluation of business processes, an assessment of business risks and a benchmark of performance against industry standards.
This approach focuses on understanding all aspects of a client’s organization, including areas such as:
- Performing independent reviews and investigations of individual transactions.
- Assisting in completing the required regulatory filings for identified suspicious activities.
- Providing on-going assessments of the risks associated with money laundering systems and transaction testing.
- Reviewing historical individual transactions.
- Assisting with regulatory investigations and communication.
- Working with law enforcement and regulatory agencies.
- Conducting computer forensics with transaction analysis.
- Investigating allegations of money laundering and internal control weaknesses.
- Cooperating with law enforcement and regulatory agencies.
- Evaluating an existing Anti-Money Laundering Compliance Program and related procedures.
- Providing knowledge and training on AML policies and procedures.