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. This guide provides valuable information for organizations in Bahrain that need to keep up to date with international Anti-Money Laundering concerns.
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; 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.
"Maintaining Anti-Money Laundering controls is essential in the continually evolving regulatory environment," said Andrew North, Managing Director of Protiviti Member Firm (Middle East) Ltd. "This guide provides readers in Bahrain 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.