Anti-Money Laundering Compliance

Consulting on cases, training, and support for AML compliance departments.

Anti-money Laundering & Sanctions
Everett Stern provides anti-money laundering consulting for banks and financial services. He focuses training on AML systems and controls which enable financial institutions design more robust AML compliance and service programs.

Mr. Stern can assist your bank or financial service.

  • AML, OFAC and BSA training for applicable employees
  • Develop enhanced internal due diligence procedures for customers and correspondents
  • Transaction analysis & account reviews for identifying suspicious activity
  • Expert examination of AML compliance programs
  • Conduct a detailed examination of all AML policies and procedures

Mr. Stern can recommend advanced techniques for enhancing the overall risk management of a financial institution through gap analyses, program evaluations, and vulnerability assessments. This work helps identify suspicious activity such as the predicate offenses to money laundering and terrorist financing. This type of intensive effort can move a financial institution to be more proactive towards AML and sanction issues. He can provide these services and additional training in compliance programs, internal controls, and risk management. We can help your organization build a risk-based customer identification program (CIP).

Fraud
Modern financial fraud is occurring across an ever-changing global environment. Bad actors are constantly adapting their schemes and scams to circumvent existing traditional regulations. Combatting financial fraud in such a dynamic environment requires skilled training and experienced personnel. Through his experience, Mr. Stern has developed a sophisticated approach that reflects the current market environment as it relates to financial crime.

Anti-bribery and Foreign Corruption
The growth of international business opportunities has increased the potential risks of foreign corrupt practices and the financial service industry’s chance at encountering these risks. As a result of The US Foreign Corrupt Practices Act (FCPA), government regulators are now prudently examining financial services for evidence of public and private corruption.

Mr. Stern understands that to comply with U.S. regulations bank clients need proper training and advanced techniques to help them combat these significant problems.

Independent Risk Analysis and Assessment
Risk Analysis of financial products, services, company locations, and customer accounts
Mr. Stern can conduct a high-quality independent review which meets the standards of regulatory agencies and banks.

Including:
⦁ Sample account transactions
⦁ Direct employee supervision
⦁ Employee interviews
⦁ File examination and review

  1. Do your bank know the true identity of your customers?
  2. Has your institution’s program been properly implemented and independently tested?
  3. Are your employees aware of their responsibilities under the BSA regulations?

A successful AML program begins with proper employee training.

Anti-Money Laundering (AML) Training
Everett’s employee training work includes concepts and strategies for detecting and preventing money-laundering activity.

Including the proper use of these reporting items.
⦁ Suspicious Activity Reports (SARs)
⦁ Currency Transaction Report (CTRs)
⦁ Report of Foreign Bank and Financial Accounts (FBAR)
⦁ Report of International Transportation of Currency or Monetary Instruments (CMIR)
⦁ Blocked Properties Reporting Form (OFAC)

Mr. Stern helps his clients address known and unknown. He can contribute to creating integrated, risk-based, and cost-effective AML solutions.