Delivering Sustainable Anti-Money Laundering Compliance Solutions
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Cases

High Risk Customers and Enhanced Due Diligence

Responding to a requirement issued in a Consent Order, our client, a large regional bank looked to Dominion to help build two key due diligence components.  The first was implementing a program using software to risk rate customers at account opening based upon demographic characteristics and anticipated usage of products and services.  Next, Dominion helped implement a process to perform enhanced due diligence (EDD) on high risk customers in accordance with the standards and expectations set out in the FFIEC BSA/AML Exam Manual.  We developed comprehensive procedures for how to conduct EDD on numerous types of high-risk customers from MSBs, to PEPs, to cash intense businesses, to NRAs.

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To learn more about Dominion’s experience and to speak to our management team contact us today. We can refer you to the AML directors and executives for whom we’ve worked so you can hear from them the value of what we do.

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