Anti-Money Laundering (AML) Annual Testing

Bring Compliance Into Your AML Program

As a CCO, navigating the ever-changing regulatory landscape can be overwhelming. Managing your firm’s Anti-Money Laundering compliance program while maintaining other responsibilities can feel like an uphill battle.

Oyster Consulting understands the challenges you face, such as staying compliant with regulations and meeting your firm’s specific needs. Our goal is to alleviate the burden of AML testing. Our AML consulting services are designed to achieve just that. We aim to help you achieve peace of mind knowing that your AML program is in good hands.

Our AML Services Include:

• AML Compliance Program Approval and Oversight
• Bank Secrecy Act (“BSA”) Compliance
• Customer Identification Program (“CIP”)
• Financial Crimes Enforcement Network (“FinCEN”) Information Requests/Sharing
• Review of Accounts, Including High-Risk Accounts
• Office of Foreign Assets Control (“OFAC”)
• Suspicious Activity Reporting

Regulatory Background

Broker-dealers are mandated to conduct an annual independent AML audit. Our Anti-Money Laundering test process aligns with the requirements of the USA PATRIOT Act, the Bank Secrecy Act, FINRA Rule 3310, and industry best practices.

Our meticulous AML independent review process includes reviewing your firm’s written policies and procedures, actual practices, and books and records. We’ll compare them to regulatory standards using a risk-based approach and random sampling methods.

The Oyster Difference

At Oyster, we understand the challenges faced by Chief Compliance Officers (CCOs) and compliance professionals firsthand. Many of our Anti-Money Laundering consultants have held these roles themselves.

This unique perspective allows us to collaborate effectively with your team. Our AML assessment will be thorough and aligned with industry best practices. Whether your firm is small or large, our consultants can help you maintain a compliance system tailored to your firm.