Jenkins-Lara Consulting can assist you in avoiding that your organization becomes unwittingly involved in a money laundering or a terrorism financing scheme. This illegal activity is not limited to drug or cash-related transactions, but also encompasses tax and other seemingly legal business activities. A properly designed AML/OFAC Compliance Program, and effective know-your-customer (KYC) and know-your-employee (KYE) policies are valuable risk management tools in today’s global business environment.
JLC will help you develop and implement effective global AML/OFAC policies and procedures tailored to your operational currencies, locations, and functional languages, and using the appropriate technology. Our firm will also provide the initial training and will work with your staff in maintaining the needed up-to-date training resources on the corporation’s intranet. Our team has developed the required expertise in the implementation of the Bank Secrecy Act (BSA) and the USA PATRIOT Act requirements applicable to money services businesses, depository institutions, securities and futures industry, as well as with persons involved in real estate closings and settlements, travel industry, precious metals and jewelry business, among others.
JLC has developed a variety of products and services to mitigate the existing risks. With criminal penalties as high as $10 million dollars and 30 years in jail, and an immense reputational risk, it pays to get professional assistance. In addition to the specialized AML/OFAC applications we have developed, Jenkins-Lara Consulting provides consulting services as well as the statutory training.
AML/OFAC Consulting Services
Jenkins-Lara Consulting can assist you in avoiding that your organization becomes unwittingly involved in a money laundering scheme. This illegal activity is not limited to drug money, but also encompasses tax and other seemingly legal business transactions.
JLC recognizes that each customer’s needs and budget are different; therefore our AML/OFAC service offering may be customized to include:
- Development of an effective AML/OFAC Compliance Program
- Full range of duties as your firm’s external Compliance Officer
- Transaction monitoring to identify structuring and other irregularites
- Statutory independent audit of the AML Program to determine its effectiveness
- Review of past transactions and monitoring for compliance with OFAC
- Due diligence and enhance due diligence of counterparties in a transaction
- Project Management in the implementation of AML/OFAC applications
AML/OFAC Training Services
Jenkins-Lara Consulting stands ready to provide the needed training to mitigate your organization’s risk. The training may be statutory or to familiarize your firm’s personnel in the existing regulations, typologies, and countermeasures associated with AML/OFAC matters. JLC will leverage its training experience to provide the needed training to your firm’s global employees. The scope of our AML/OFAC training includes:
- Initial on-site training
- Intranet content management
- Sustainment on-line training
- Computer-Based Training (CBT)
- Comprehensive train-the-trainer program
- Due diligence/EDD and KYC/KYE customized typologies training
- Development and review of industry specific training materials