Anti Money Laundering (AML) Advisory
Money laundering is the process by which criminal proceeds / owners of these funds are concealed in a manner so as to make it appear that these funds are obtained from legitimate sources. Most common way to launder money is to circulate the money several times through different channels, different bank accounts and using different transactions amounts such that it leaves a complex money trail and makes it very difficult to trace the origin of the money.
Challenges for Banks and other financial institutions is to remain a step ahead of these Money Launderers and to ensure that incase such transactions do take place, these are promptly identified and necessary action taken immediately.
Riskpro has a team of banking specialist who understand the important processes and controls required to ensure a strong AML Framework. This framework is well integrated in the KYC process of the institution.
Indian regulators are proposing major reforms in the KYC /AML regulations. From proposing a single KYC across institutions to extensive monitoring and reporting of suspicious transactions, the onerous compliance requirements are many. Riskpro is updated with these requirements and can help your organisation to continuously enhance your processes, controls and framework to align with best practices.
Riskpro has also partners with leading technology companies that offering cutting edge technology in the AML domain. We would be happy to discuss these offerings with you.
