As a bank or financial services provider, you are subject to strict, constantly changing requirements for the prevention of money laundering and the financing of terrorism. International operations and cross-border business relationships create additional complexity, which in some cases will require compliance with the standards applied by other regulators and supervisory authorities in order to avoid sweeping sanctions, penalties and reputational damage.
This places demands on the entire institute and virtually all processes, aside from the compliance function itself. Included in this are the agreement of new business relationships, the ongoing monitoring of transactions, the report of suspicious cases and staff training as well.
At gwp, we have relevant experience and will gladly assist you and your institute in the prevention of money laundering and terrorism financing.