IaS provides an E2E service from the creation of compliance frameworks & policies all the way to ml detection. We help organizations prevent and detect money laundering, including risk assessments, KYC, EDD, financial due diligence, fraud detection, training and background checks.
Internal Audit & Compliance
Canada, Caribbean, Bermuda, Offshore
IaS advises organizations on complying with Anti-Money Laundering and Terrorist Financing Regulations to detect and deter money laundering and terrorism financing. We share best practices on governance, risk assessment and controls to mitigate an organization's money laundering and terrorism financing risks. Organizations can protect and maintain the integrity of their businesses while contributing to the integrity of the financial system as a whole with the support of IaS.
IaS creates compliance frameworks to to meet regulatory frameworks. We have many experts with the experience to create comprehensive and effective compliance programs to meet organizations' obligations under AML regulations. Our AML Compliance Framework includes: - An AML Risk Assessment - Policies and Procedures - Training - Ongoing Monitoring of the effectiveness of controls It is important to demonstrate that documentation is in place and that employees, agents, and all others authorized to act on your behalf are well trained and can effectively implement all the elements of a compliance program.
Risk Based Assessments
We can prepare an inventory of risks relating to products, services and delivery channels, clients and business relationships, geography and other relevant factors. We also help in implementing effective mitigation measures and in monitoring the money laundering and terrorist financing risks reporting entities may have or encounter as part of their activities and business relationships.
Money Laundering Investigations
We are staffed to advise on complex money laundering activities
Are the monies being funnelled through subsidiaries, fictitious entities or shell corporations? Our forensic accounting and investigative staff members work to uncover the hidden connections and to provide clients with visual tools to "follow the money".
The team has many years of experience providing investigation services to the private sector. Our experienced team includes former Scotland Yard detectives and RCMP officers. Staff also belong to a world-wide network of investigation agencies and has a close relationship with law enforcement agencies.
Penalties for non-compliance
A conviction of failure to retain records could lead to up to five years imprisonment, a fine of up to $500,000, or both. Failure to comply with your record keeping or client identification requirements can lead to criminal charges.
Alternatively, failure to keep records or identify individuals and confirm the existence of entities can lead to an administrative monetary penalty.
.. decades of experience & deep specialization ..
We have the Ideal team ready
Global Regulatory AML Leader Expert and experienced in: AML/ATF Regulations and Risk Analysis; AML/ATF Policy, Program Design and Reporting; Regulatory and Corporate Investigations; Customer Identification (KYC) and Enhanced Due Diligence; Senior Managements positions held at recognized institutions
Chief Internal Auditor A bilingual Audit Executive with expertise in assessing and controlling risks related to AML & ATF processes. As a Chief Audit Executive for North America company reporting to CEO and Audit Committees, he directed the development and execution of risk based audits to satisfy multiple regulators and audit committees. Over 30 years of external and internal audit experience in multi-unit, multi-country environments.
Chief Compliance Officer Expert in the roles and responsibilities of a Chief Compliance Officer and has in-depth knowledge of OSC requirements. A leading compliance expert who has in depth knowledge of OSC compliance covering KYC ( Know Your Client), KYP ( Know Your Product), suitability assessments, working capital calculations, AML / ATF filings, registration of dealing representatives, outside business activities on NRD ( National Registration Database), monitoring social media and other NI 31-103 guidelines.
AML Executive An accomplished executive with 20 years of experience in leading successful anti-money launderingand regulatory compliance initiatives and functions. Expertise includes working with different and international organizations in Canada, USA, UK and UAE utilizing a pro-active style when working with audit committee members and senior management to enhance risk, governance and internal controls.
Offshore AML Leader Leader in the offshore Financial Services industry for more than 25 years. Worked at multi-national firms and banks with extensive experience in anti-money laundering (AML) regulations, risk management, policy development, corporate governance, training, and operational compliance. Developed and implemented policies and procedures to meet operational and regulatory requirements for multiple firms.
Former Chief Anti-Money Laundering Officer 20 years of experience dealing with Canadian AML regulations at a leading financial institution. Led the compliance team to ensure compliance with firm policies and procedures and industry legislation and regulations.
AML Wealth Management Advisory & Brokerage Auditor Conducted AML audits of wealth management advisory and brokerage operations in Canada, UK, Hong Kong, UK, Channel Islands and Bahamas covering KYC, KYP, suitability, best interests, conflicts of interest and trading practices.
AML Consultant & Auditor Expert in the field of compliance and AML. Responsible for evaluating the compliance and anti- money laundering programs at some of Canada's largest financial institutions. Provides international and domestic AML consulting services to a variety of public and private sector organizations in Canada and elsewhere.
AML/KYC Consulatant & Auditor Auditor of wealth management units. Tests AML/KYC controls including controls related to suspicious transaction monitoring and reporting.
Commercial Banking & Caribbean AML Auditor Expert in AML best practices as they apply to retail and commercial banking in Canada and the Caribbean.
Intelligence & Investigations Team
Our Intelligence & Investigations team support the AML team in complex investigations.
We have an elite Security, Intelligence & Investigation unit. The members are top-ranked security professionals from world-recognized intelligence and police services. IaS offers a network of dedicated intelligence professionals with industry-specific experience and advanced know-how to help organizations achieve AML & ATF compliance.
AML Data Analytics
With AML and compliance, the data required to identify and combat financial crime is complex. It is often difficult to gather because data is often stored across a patchwork of legacy systems, new systems and siloed business-specific applications. Data quality can vary greatly. Working with unreliable, incomplete or inconsistent data makes it difficult to identify bad actors who pose a financial and reputational threat, which undermines an institution’s ability to efficiently manage risk across the enterprise.
We provide Computer Assisted Audit Techniques in our AML practice. IaS's large team of data analytic experts, previously with a global bank, enable efficient AML auditing.