Anti-Money Laundering Surveillance
- A large buy-side firm required support to conduct ad hoc and periodic searches of OFAC and FinCEN to ensure compliance with AML requirements. The client team needed to conduct over 10 weekly searches as part of its AML surveillance.
- Amba deployed compliance-trained analysts with a capital markets background to run an AML check on prospective and current clients by conducting searches on the OFAC and FinCEN websites.
- Evidence of AML checks are maintained by the Amba team for reference during client/regulatory audits.
- With Amba’s help, the client spends less time completing due diligence on prospective and current clients.
- Amba provides ongoing support for the client’s compliance team, strengthening its internal compliance functions, and freeing up bandwidth for it to focus on other value-added activities within the compliance department.
- The Amba team’s turnaround time for each request is 24 hours.
- More than 10 compliance risk assessment of intermediaries are completed for the client in a month.