Anti-Money Laundering
PwC’s AML experience is drawn from more than a decade of providing:
- Money laundering (ML) and Terrorism Financing (TF) risk-assessment, compliance program design, development, review and training.
Our specialists have experience working with leading Australian, European, South American, North American and Asian financial institutions, commercial banks, securities firms, investment companies, foreign exchange businesses and companies in other industry sectors on money laundering risk control.
More…
We have conducted money laundering vulnerability assessments for banking and securities industry clients on every continent and made recommendations for reducing risk and establishing ‘best practices’ in deterrence and compliance, including implementing Know Your Customer (KYC) and monitoring solutions.
The services we offer address the AML and Sanctions requirements that arise when establishing effective regimes, and include the following:
- gap analysis
- program reviews/remediation work under enforceable undertakings
- design, development and roll out of Standardised Solutions for risk assessment methodologies and tools to assist
- investigative due diligence on customers and staff
- technology business case development and vendor selection
- transaction Monitoring Solutions evaluation, delivery and review
- flow investigations
- KYC and customer remediation.
Anti-Bribery & Corruption
Recent highly publicised allegations of bribery and expectations of increased government enforcement have established bribery and corruption risk as an inescapable reality in the minds of executives and highlight the risks to companies of conducting business overseas. While there is a firm commitment to tackling bribery and corruption, companies need to do more to protect themselves including focussing on their policies, procedures and controls to mitigate these risks.
More…To assist our clients to manage the risk of operating in challenging foreign environments, we have developed practical, risk-based, anti-corruption methodologies which:
- identify corruption risks by territory, business operation or activity through the performance of risk assessments
- identify high risk transactions, including cash, commissions, entertainment, travel and the use of agents
- assist in the design and implementation of anti-corruption policies, programmes and controls
- identify and develop responses to weaknesses in programmes and controls
- enhance corruption awareness through training client personnel
- execute corruption-specific due diligence procedures
- tailor technology solutions to monitor and detect corruption
- investigate allegations and incidences of corruption.
