The company was preparing to enter the U.S. market and needed guidance with its anti-money laundering (AML) manual. Guidepost Solutions reviewed the manual and provided advice concerning expectations from U.S. regulators; standards for governance of AML programs; and the policies, procedures, and technology used to meet U.S. standards.
Detailed consulting included customer due diligence, OFAC screening requirements, standards for politically exposed persons (PEPs), enhanced due diligence, screening frequency, audit subjects, implementation of audit recommendations, U.S. reporting obligations for other issues (cyber breaches, e.g.), suspicious activity reporting secrecy requirements, and governance issues.
The company accepted almost all of the recommendations proposed by the Guidepost Solutions team and was able to complete its U.S. AML manual. As it gets ready to enter the U.S. market, the company approached Guidepost Solutions to provide additional services.