Don’t be the next AML enforcement example.
Since 9/11, laws and regulations aimed at preventing the laundering of crime proceeds have been steadily redoubling—as criminals get more inventive at laundering their ill-gotten gains.
In the past, focus has been almost exclusively on banks and deposit institutions. Now, a wider net is being cast by regulators to encompass a broader range of businesses—which means intensified obligations imposed on such sectors as security dealers, insurance companies, lawyers, accountants, casinos, race tracks, and gift card issuers.
Canadian companies, at least so far, have not been hit with the massive fines and penalties being handed out by U.S. regulators. As a result of International and U.S. pressure, Canadian regulators are expected to demonstrate to the world, and particularly to the U.S., that they, too, are getting tough on compliance.
Better due diligence, less chance of penalty.
At Risk Oversight Inc, we have deep experience and knowledge in AML, gained from global experience with financial institutions in Canada, the U.S., Europe, Asia, Australia, Mexico and Central America.
Our specialized expertise can provide targeted solutions to make sure you stay onside with regulators—as cost-effectively as possible. Or, if you’ve been hit with non-compliance warnings and/or sanctions, we can help sort out your obligations and create cost-effective compliance frameworks.
Time for a better response to AML due diligence. Contact us today.