Client Due Diligence / Enhanced Due Diligence

Due Diligence2Creating a due diligence process is vital for your firm to safeguard its regulatory reputation and comply with requirements under the Bank Secrecy Act and the USA PATRIOT Act. Certain clients are more complex and create a higher risk for money laundering. Creating and enhancing due diligence programs for these clients is key to a successful Customer Identity Program and Anti-Money Laundering Program. After a review of existing policies, procedures and practices, Oyster can help you refine your due diligence programs by:

  • Educating staff on regulatory expectations and industry trends
  • Implementing or changing existing practices to achieve industry best practices
  • Creating reports to identify risk
  • Acting as a outsource to conduct due diligence on high risk accounts
  • Remediating historical gaps in due diligence files

The Oyster Difference

Oyster offers practical solutions to industry challenges. We do not offer cookie-cutter solutions; our recommendations are based on your firm’s business model and risk tolerances.