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New Protiviti Anti-Money Laundering Guide Provides Insights into Challenges and Strategies for Managing Money Laundering Risks


New Protiviti Anti-Money Laundering Guide Provides Insights into Challenges and Strategies for Managing Money Laundering Risks

Fifth edition addresses new requirements and evolving industry practices

MENLO PARK, Calif., Nov. 12, 2012 /CNW/ - Protiviti (www.protiviti.com), a global consulting firm, has published a new version of its Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions for organizations faced with the everyday challenges of identifying and preventing money laundering. The fifth edition of the guide (www.protiviti.com/AMLguide) covers a wide range of topics from the basics of anti-money laundering (AML) and sanctions compliance to detecting terrorist financing and money laundering schemes.

(Logo: http://photos.prnewswire.com/prnh/20090115/AQTH541LOGO)

Based on input from clients, attorneys, regulators and other anti-money laundering experts, Protiviti's Guide to U.S. Anti-Money Laundering Requirements is one of the most comprehensive documents of its kind. With practical answers to more than 1,700 questions, the guide has become a valued resource to senior management, compliance officers, internal auditors and other AML practitioners working to address a growing body of both AML and sanction-related requirements and regulatory expectations.

"Money laundering and sanctions compliance issues remain very much in the headlines," said Carol Beaumier, executive vice president of Protiviti and the firm's global financial services industry and regulatory leader. "Our guide provides clear and concise responses to the myriad questions that arise on a day-to-day basis in the design, implementation and maintenance of effective anti-money laundering and sanctions compliance programs."

The fifth edition of the Guide to U.S. Anti-Money Laundering Requirements features many new and updated sections, including:


    --  FATCA – Addresses the basic requirements of the Foreign
        Account Tax Compliance Act (FATCA) and the intersection of
        FATCA and AML.
    --  New and Proposed AML Program Requirements – Explains the
        new requirements for non-bank mortgage lenders and the proposed
        requirements for Government Sponsored Enterprises (GSEs).
    --  Prepaid Access Devices ? Considers the impact of proposed
        requirements on money services businesses and on cash reporting
        and other Bank Secrecy Act recordkeeping and reporting
        requirements.
    --  Reporting and Recordkeeping Requirements – Explains the
        recent changes to Currency Transaction Reports and Suspicious
        Activity Reports as well as the introduction of the Treasury
        Department's Part 561 List of foreign financial institutions
        that have been deemed to be engaging in activities prohibited
        by the Comprehensive Iran Sanctions, Accountability and
        Divestment Act of 2010.
    --  Convergence of Anti-Money Laundering and Other Crimes –
        Looks at the risks and expectations for financial institution
        AML programs to identify crimes such as human trafficking and
        elder financial abuse.
    --  International Perspectives – Provides an update on
        guidance issued by the spell out and other international
        bodies.

"We are pleased to share the views and perspectives we have developed through 
our extensive AML and sanctions compliance work with financial and 
non-financial institutions," Beaumier said. "We hope this new edition of the 
guide continues to serve as a valuable tool for companies to evaluate and 
benchmark their AML and sanctions compliance programs."

To obtain a complimentary copy of the fifth edition of Protiviti's Guide to 
U.S. Anti-Money Laundering Requirements: Frequently Asked Questions, please 
visit www.protiviti.com/amlfaq.

About Protiviti

Protiviti (www.protiviti.com) is a global consulting firm that helps companies 
solve problems in finance, technology, operations, governance, risk and 
internal audit. Through its network of more than 70 offices in over 20 
countries, Protiviti has served more than 35 percent of FORTUNE(®) 1000 and 
Global 500 companies. The firm also works with smaller, growing companies, 
including those looking to go public, as well as with government agencies.

Protiviti is a wholly owned subsidiary of Robert Half International (NYSE: 
RHI). Founded in 1948, Robert Half International is a member of the S&P 500 
index.

Protiviti is not licensed or registered as a public accounting firm and does 
not issue opinions on financial statements or offer attestation services.

Kathy Keller, +1-650-234-6252, Kathy.keller@protiviti.com

http://www.protiviti.com

http://photos.prnewswire.com/prnh/20090115/AQTH541LOGO

PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Protiviti

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/12/c6988.html

CO: Protiviti
ST: California
NI: FIN INS PUB ACC LAW VERDICTS LAWVIEWS NP 

-0- Nov/12/2012 13:02 GMT

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