MENLO PARK, Calif., Oct. 19 /PRNewswire/ -- Protiviti (www.protiviti.com), a global business consulting and internal audit firm, is making available a new version of its resource guide for organizations faced with the complex task of creating and implementing anti-money laundering strategies that address evolving regulatory and business concerns. The fourth edition of Protiviti's Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions (www.protiviti.com/amlfaq) covers virtually all facets of anti-money laundering requirements, from basic background information to the convergence of anti-money laundering and anti-fraud programs.
Updated with input from clients, attorneys, regulators and other anti-money laundering experts, the Guide to U.S. Anti-Money Laundering Requirements is one of the most comprehensive documents of its kind. Featuring pragmatic answers to nearly 1,500 questions, the guide offers insight into a wide range of anti-money laundering issues; major U.S. anti-money laundering and sanction requirements (including a list of key laws and regulations), as well as perspectives on international requirements; numerous links to other helpful resources; a glossary and more. In addition to new and updated content, the guide's easy-to-navigate format simplifies searching and cross-referencing.
"More than nine years after the passage of the USA PATRIOT Act, the financial services industry continues to be challenged in its effort to develop and maintain anti-money laundering compliance programs that meet regulatory expectations," said Carol Beaumier, executive vice president of Protiviti and the firm's global financial services industry and regulatory leader. "Our guide seeks to provide readers with a practical, yet strategic look at the issues; an understanding of how topics are interrelated; and quick access to credible third-party resources."
The fourth edition of the Guide to U.S. Anti-Money Laundering Requirements features many new and updated sections, including:
- Beneficial Ownership – Addresses obligations to identify beneficial ownership as well as the due diligence procedures involved in identifying beneficial owners and guidance on related risks.
- Comprehensive Iran Sanctions, Accountability and Divestment Act (CISADA) – Addresses additional sanctions the United States imposed on Iran and the impact they have on U.S. financial institutions and correspondent banking.
- Risk Assessments – Expanded to include more detailed information on business line and customer risk assessments, and guidance related to risk assessments.
- High-Risk Customers, Products, Services and Transactions – Looks at strategies to mitigate risk as well as guidance related to heightened money laundering and terrorist financing risks posed by these customers, products, services and transactions.
- Convergence of Anti-Money Laundering and Anti-Fraud Programs – Explores a growing financial services industry trend toward integrating anti-money laundering and anti-fraud programs and the key issues and challenges companies face in doing so successfully.
"Creating and executing a strong anti-money laundering strategy is a team effort that draws from all disciplines within an institution," Beaumier said. "We hope this guide will serve as an invaluable reference for senior management, compliance officers, internal auditors and other stakeholders as they work to address these vast, ever-evolving regulatory requirements."
To obtain a complimentary copy of the fourth edition of Protiviti's Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions, visit www.protiviti.com/amlfaq.
Protiviti is a global business consulting and internal audit firm composed of experts specializing in risk, advisory and transaction services. The firm helps solve problems in finance and transactions, operations, technology, litigation, governance, risk, and compliance. Protiviti's highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for clients in the Americas, Asia-Pacific, Europe and the Middle East.
Protiviti has 60 locations worldwide and is a wholly owned subsidiary of Robert Half International Inc. (NYSE: RHI). Founded in 1948, Robert Half International 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.