Limit examiner findings and help confirm that your financial institution is properly identifying suspicious activity with AML software validation.
CliftonLarsonAllen’s (CLA) professionals can help pinpoint weak or ineffective parameters in your software to help limit risk and improve efficiency.
What’s on your mind?
- Addressing AML examiner concerns or findings
- Adjusting software parameters and cutting down on time spent reviewing suspicious activity
- Using AML software efficiently and effectively
- Mitigating risks associated with money laundering
- Regulatory compliance
A unique approach
As a part of AML compliance, your software should be tested to make sure that your parameters are identifying current or potential suspicious activity. CLA financial institution professionals run a background review, test your software, and provide a report that includes areas of concern to discuss with your vendor. We know that your software works in tandem with your team, so we also look at your institution as a whole to help you best utilize your system, manage risk, and meet AML rules.
BSA/AML software testing services for financial institutions
- Activity monitoring gap analysis
- BSA/AML compliance
- Currency transaction reporting
- Customer due diligence
- Independent model validation and testing
- Office of Foreign Assets Control (OFAC) scanning
- Staffing assessment
- Suspicious activity reporting
- System optimization
- A complete suite of regulatory compliance services