Anti-Money Laundering Services
DAG provides Anti-Money Laundering and Bank Secrecy Act (AML/BSA) Services to financial institutions and non-bank financial institutions such as casinos, Money Service Businesses (MSBs), foreign currency exchanges, dealers of precious metals and jewelry, and insurance companies. The USA PATRIOT Act’s Section 352, Title 31 of the United States Code, and other laws and regulations requires financial institutions, as well as non-bank financial institutions to establish an effective Anti-Money Laundering Program (“AML”) that will help prevent and detect money laundering and the financing of terrorism. Due to recent developments in the economy, regulators have been increasing their scrutiny and oversight in these and other areas. Regulators require financial institutions to have a risk-based program to not only identify their customers, but to know their customers. Getting to know your customers from the start and conducting the proper due diligence is the first step in have an effective AML program. This important step will help you identify and manage your risks. Once you know and understand your customers, financial institutions are required to monitor transactions to ascertain when a customer's activity deviates from their norm. When this happens, financial institutions need to determine if this unusual activity is suspicious through a thorough investigation.
DAG has the expertise to provide your financial institution the full range of anti-money laundering consulting and investigative services including:
· Compliance Services
· Independent Testing of AML Programs
· Development and Implementation of Risk Assessments
· Customer Identification Program (CIP) Review
· Know Your Customer (KYC) Reviews and Analysis
· Conduct Enhanced Due Diligence
· Gap Analysis and Validation of your program
· OFAC Compliance Services
· Vendor Selection for your BSA/AML System
· Training Services for Staff, Management and Board Members
Recent studies have concluded that incidents of fraud and misconduct are rising both from an internal and external perspective. You only have to pick up a newspaper to read about a new fraud, scam or “Ponzi scheme” being discovered. In these difficult financial times, the pressures will only increase on employees, vendors and others to commit fraud and misconduct. DAG has the expertise, experience and technology to help companies and law firms detect fraud, identify those involved, and remediate the problems. Working directly for you or working closely with law firms, DAG can assist your company through the investigative process to help you get to the bottom of your problem.
Through a proactive approach, DAG has the experience to create, modify or implement your Risk Assessment and fraud controls to help you identify potential problems and vulnerabilities and establish better controls for your business. These new programs will not only help management improve effectiveness, but will also increase the confidence of your board and shareholders.
· Fraud and Misconduct Investigations
· Asset Tracing
· Data Mining and Analysis
· Mortgage Fraud
· Mortgage Loan File Remediation and Litigation Support
As a result of the recent financial crisis, the government is increasing its emphasis on regulatory compliance. They are hiring hundreds of new regulators to help them examine businesses and identify gaps and non-compliance with laws and regulations. Under the U.S. Patriot Act and related statutes, the government has been enforcing anti-money laundering regulations for financial institutions and non-bank financial institutions. Any company doing business with a foreign national or a foreign business, must also be in compliance with the regulations covered by the Office of Foreign Asset Control (OFAC) to ensure they do not conduct a “financial transaction” with a company or person on the OFAC list. Under the Foreign Corrupt Practices Act (FCPA) and related regulations, each company doing business in any foreign country must ensure they have policies and procedures in place to guard against payments to “foreign officials”. A recent addition to regulatory compliance is the Fair and Accurate Credit Transaction Act (FACTA). This new regulation is also known by some as the “Red Flags” regulation. This regulation requires all “financial institutions” and any business that has consumer related credit accounts or has deferred payment type relationships to have a robust program to prevent identity theft.
DAG will help you take a proactive approach to addressing your regulatory requirements with their expertise and experienced personnel. We can help you develop and implement your Risk Assessments in each of these areas, helping you identify potential vulnerabilities and establish better controls for your business. These new programs will not only help management improve effectiveness, but will also increase the confidence of your board and shareholders.
· AML/BSA (Anti-Money Laundering and Bank Secrecy Act)
· OFAC (Office of Foreign Asset Control)
· FACTA (Fair and Accurate Credit Transaction Act)
· Anti-Bribery & FCPA (Foreign Corrupt Practices Act)
· Training Services
Unfortunately, not all disagreements can be amicably resolved. In cases where financial litigation is involved, DAG has the expertise, experience and technology to help companies and law firms through the litigation process from start to finish. DAG has extensive experience in federal and state courts in dealing with both civil and criminal matters. We have the experience to assist law firms in making the proper discovery request and then conducting detailed analysis of the financial data received. After the analysis is complete, we can assist law firms with interviews of key witnesses and prepare them for trial. If needed, DAG can be your fact or expert witness at trial. With over 30 years of financial investigative and litigation experience, we can help you through that difficult process.
· Discovery Assistance
· Forensic Financial Analysis including Data Analysis
· Witness Interviews and Preparation
· Arbitration Support
· Fact Witness Testimony
· Expert Witness Testimony