New York AML Anti-Money Laundering Consultants 

New York AML Anti-Money Laundering Consultants

Money service businesses in the financial industry are required to comply with state and federal laws, including anti-money laundering regulations. A small misstep can be costly, destroying a business’s reputation and future. At Bates Group LLC, our New York AML anti-money laundering consultants provide expert consulting services to finance-industry businesses like yours. Whether your business needs assistance designing an anti-money laundering compliance program, monitoring agents, assessing risk, or responding to an investigation, we have you covered. Reach out to us today to get started. 

What Is Anti-Money Laundering Compliance?

Money laundering is highly penalized by the federal government, as is also highly monitored. In order to avoid financial crimes like money laundering, financial institutions globally—including banking and nonbanking financial institutions such as money transmitters and crypto based firms—are required to develop and adopt anti-money laundering (AML) compliance programs. These programs put in place a set of regulations and procedures that said institutions follow to both detect and mitigate money laundering. These protocols are also used to prevent activities related to terrorist financing. 

What Does an Anti-Money Laundering Consultant Do?

An anti-money laundering consultant helps your business navigate the world of anti-money laundering compliance regulations, including agent oversight and monitoring, as well as respond to and prepare for investigations. Today, with unprecedented scrutiny on businesses in the financial industry, investigations are almost a guarantee for all money services businesses. An anti-money laundering consultant can help by providing the following services:

• Designing, implementing, and enhancing anti-money laundering programs and other programs designed to enhance compliance;
• Conducting independent program testing and validation;
• Implementing anti-money laundering monitoring systems;
• Conducting AML risk assessments and making relevant recommendations for internal business adjustments;
• Providing representation in preparation for and during an investigation, which includes conducting multiyear lookbacks, collecting and preserving relevant data, gathering expert witness testimony, investigating bank accounts, performing in-depth reviews of compliance programs; and more; and
• Managing operations and risk. 

We can also provide agent oversight and monitoring services, a critical piece of a strong AML compliance program plan. 

The Value of Protecting Your Business with a New York AML Anti-Money Laundering Consultant

There is more pressure and scrutiny on financial businesses than ever before; regulators are keeping a close watch and are on alert for any signs of financial crimes, including money laundering and terrorist financing. By investing in an experienced consultant who specializes in anti-money laundering compliance services for businesses, your company takes a step forward in avoiding an encounter with the law. Working with an AML professional may also save your company money later on—helping it to avoid court fees, legal fees, and fines. With an AML anti-money laundering consultant in New York, you can also protect sensitive data, reduce your legal costs, and quickly identify and correct any non-compliance issues. 

Connect with Bates Group LLC Today to Get Started

To learn more about our New York AML anti-money laundering consultants and the services we provide, reach out to our consultants directly today by phone or online. We have the reputation, the experience, and the commitment to our clients that you deserve.