What We Do
Fintechs and Payments Firms
With the global movement of money, it is imperative that Fintechs and payment firms focus on AML and Sanctions compliance. Our firm has expertise in rolling out payment products in over 75 countries with operational knowledge of FATF, EU, MAS, US, AUSTRAC, FINTRAC, and other regulatory standards. We excel in building AML & Sanctions programs for new and existing technology, customization of sanctions framework programs, audit for country-level FIU requirements, and remediation for regulatory or bank partner issues.
Banks and Credit Unions
Traditional FIs (TradFis), inclusive of banks and credit unions, are the backbone of any financial advancement. BaaS and bank partners are critical infrastructure for Fintechs and the focus of regulatory agencies. Our solutions include AML validations, audits, remediations, AML/Sanctions program advisory, and BaaS program build out. We have niche expertise in correspondent banking, cannabis banking, trade finance, crypto- banking, and offshore financial entity licensing.
Trust companies and securities firms
Trust companies, investment firms, and securities brokers have nuanced, and in some cases, complex requirements that may be imposed by regulatory agencies or bank partners. With expanding regulatory requirements for certain investment professionals, our firm can build AML/Sanctions programs, perform audits, and create sanctions framework programs.
Regtechs and Startups
Data and systems drive everything we hope to accomplish when it comes to detecting and ending financial crime. With the boom in regulatory technology and various ways in which companies hope to make a difference, there are many practical steps from bootstrap to Series A that must be considered for the longevity of the product. We have years of experience working with all types of technology for AML and Sanctions compliance – our advice can help you tailor your messaging to your customer base and ensure that it will work for them.
Innovative Insights: Highlighting Strategic Solutions
Sanctions Oversight Alert
The OFAC penalty against a Swiss banking group underscores the need for strict sanctions compliance, including with Cuba, North Korea, and Russia. It highlights conducting thorough OFAC screenings and understanding beneficial ownership and account structures to avoid sanctions violations.
Data Governance Alert
The $250MM fine on JPMorgan by the OCC highlights critical lapses in data governance and surveillance. This incident questions AML and sanctions integrity, emphasizing accurate data’s importance in compliance. It reminds banks to prioritize data management and governance to prevent future failures.
Avoid Penalties
Now
Sarah Beth Felix’s insights and achievements have been featured in renowned publications such as Financial Times, WSJ, CNBC, Reuters, and The Washington Post, among other esteemed outlets.
