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