Sixth edition features significantly expanded Q & A and a
wide range of new topics
MENLO PARK, Calif.,
Nov. 10, 2014 /PRNewswire/
-- Protiviti (www.protiviti.com), a global consulting firm,
has published the sixth edition of its Guide to U.S. Anti-Money
Laundering Requirements: Frequently Asked Questions. The sixth
edition of the guide (www.protiviti.com/AML) serves as a reference
tool for organizations as they continue to try to address an
evolving set of regulatory expectations around anti-money
laundering (AML) and sanctions compliance.
Based on input from clients, attorneys, regulators and other
anti-money laundering experts as well as Protiviti's own work with
clients in the U.S. and abroad, Protiviti's Guide to U.S.
Anti-Money Laundering Requirements is one of the most
comprehensive documents of its kind. With practical answers to more
than 2,000 questions, the guide has become a valued resource for
senior management, compliance officers, internal auditors and other
AML practitioners working to address a growing body of both AML and
sanction-related requirements and regulatory expectations.
"Sensitivities around money laundering and sanctions remain
top-of-mind for both national and multi-national organizations
across the globe," said Carol
Beaumier, an executive vice president of Protiviti and the
firm's global financial services industry leader. "As organizations
continue to design and enhance existing anti-money laundering and
sanctions risk management and compliance programs, there will
inevitably be questions that arise throughout the process.
Protiviti's guide can help address these questions by providing a
comprehensive resource and a fresh look into new and emerging
issues."
The sixth edition of the Guide to U.S. Anti-Money Laundering
Requirements features many new and updated sections,
including:
- Human Trafficking and Smuggling - Identifies red flags
to watch for as well as the possible impact on financial
institutions; the components of an effective anti-human trafficking
and anti-migrant smuggling program and many others.
- Virtual Currency – Addresses how virtual currency is
defined, some of the warning signs of suspicious activity and an
in-depth look at virtual currency systems and participants.
- Marijuana-related Business – This completely new
addition to the guide looks into which marijuana-related businesses
are legal, which states have passed laws or proposed legalizing
marijuana-related activities, and provides guidance on the
conflicting federal and state marijuana-related laws.
- AML/CFT Technology – Provides an expanded look
at the selection and use of U.S. anti-money laundering technology
and countering the financing of terrorism (AML/CFT)
technology.
- Risk Assessments – Elaborates on regulatory expectations
and leading industry practices across various assessments
including: Enterprise-wide Risk Assessment, Horizontal Risk
Assessment, Line of Business/Legal Entity Risk Assessment,
Geographic Risk Assessment, Product/Service Risk Assessment,
Customer Risk Assessment and Sanctions Risk Assessment.
- Sanctions Compliance - Discusses the ever-expanding and
complex sanctions landscape.
- Global Compliance Standards – Examines how U.S. AML/CFT
standards compare to those issued by the Financial Action Task
Force (FATF).
"It is our hope that the new guide, developed through our
extensive work in AML and sanctions compliance, will continue to
assist organizations to understand better and remediate the
everyday challenges associated with identifying and preventing
money laundering. Whether you are a CRO, an attorney, a regulator
or an anti-money laundering expert, we are confident that we have
addressed some of the major concerns and increasing number of
questions that have come about since the development of our first
AML guide," added Beaumier.
Recognizing the international focus on money laundering and
terrorist financing, the new guide also contains a section on the
international aspects of AML/CFT, including guidance for
multi-national institutions.
To obtain a complimentary copy of the sixth edition of
Protiviti's Guide to U.S. Anti-Money Laundering
Requirements, please visit www.protiviti.com/AML.
Webinar on December 11
On Thursday, December 11, 2014 at
10:00 a.m. PST, Protiviti's Beaumier
along with John Atkinson, a director
in the firm's regulatory compliance practice, will host a
complimentary webinar featuring guest speakers Stephan Becker and Deborah Thoren-Peden. Both are partners with
Pillsbury Winthrop Shaw Pittman LLP.
The webinar will cover several aspects of AML, including:
- Industry leading practices for AML and sanction risk
assessments
- Increasingly complex sanction requirements
- Regulatory expectations for the use of enabling technology
- New and pending regulations
- Areas of emerging risks
Please register for the one-hour webinar at
www.protiviti.com/webinars.
About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that
helps companies solve problems in finance, technology, operations,
governance, risk and internal audit, and has served more than 40
percent of FORTUNE 1000® and FORTUNE Global
500® companies. Protiviti and its independently owned
Member Firms serve clients through a network of more than 70
locations in over 20 countries. The firm also works with smaller,
growing companies, including those looking to go public, as well as
with government agencies.
Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948,
Robert Half is a member of the
S&P 500 index.
Protiviti is not licensed or registered as a public
accounting firm and does not issue opinions on financial statements
or offer attestation services.
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