Anti-Money Laundering

Independent Anti-Money Laundering (AML) Program Testing

Gaining an unbiased assessment of how your firm’s anti-money laundering compliance program meets AML mandates—and of where you stand in regard to money laundering risk—requires regular, comprehensive AML program testing. The certified experts at Rubicon Consulting Group (RCG) provide independent testing of the anti-money laundering compliance program for FINRA member broker/dealers as well as SEC and state Registered Investment Advisors (RIAs).

For valid independent AML program testing, auditors for your firm must first and foremost meet two basic requirements:

  • Anti-money laundering compliance program auditors must be knowledgeable of all AML standards and the various applications of AML rules as they apply to broker-dealers and investment advisors.
    • RCG AML specialists are well-versed in the relevant AML mandates not only of the Bank Secrecy Act (BSA) and the USA Patriot Act of 2001, but also of such governmental administrators and regulators as the Securities and Exchange Commission (SEC), the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Financial Industry Regulatory Authority (FINRA).
  • Anti-money laundering compliance program auditors must be independent of the functions being tested (i.e. an auditor cannot be your designated AML compliance person, a member of your AML compliance team, or any individual who reports to either).
    • RCG’s testing professionals offer the third-party money laundering compliance testing your firm requires. Our experts include FINRA Certified Regulatory Compliance Professionals (CRCP) with extensive anti-money laundering experience.

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