LegalEase’s AML Expertise: Fortune 500 Investment & Banking Firm Successfully On-boards Institutional Client
L
LegalEase SolutionsApril 28, 2023
1 min read
The Client is a Fortune 500 company that provides banking, investing, and insurance services to their clients. They have almost 100 years of experience in the field of investment and insurance and are a brand trusted by millions of Americans.
AML review
Financials vetted
Timelines met
Challenge
The client needed to onboard an institutional organization. They reached out to LegalEase Solutions to run an Anti-Money Laundering (AML) due diligence check on the organization.
Solution
- LegalEase Solutions came onboard with extensive experience in AML support projects in the financial sector.
- LegalEase mobilized an AML support team to launch the project immediately.
- The AML support attorneys provided a seamless solution for the client’s customer onboarding process.
- The LegalEase team determined whether funds were obtained legally.
- Counter party names were checked against AML watchlists, adverse media, and enforcement actions databases to reduce money laundering risks
- If a potential counterparty was suspected to have engaged in money laundering, or posed as a money laundering threat, they were immediately reported to the client.
- LegalEase Solutions was available to take on all types of AML check requests, whether they were expedited or not.
Results
- LegalEase Solutions promptly shared the AML verification documents within the requested timeline.
- The Client’s financials and sources were thoroughly vetted against an exhaustive AML list.
- The LegalEase Solutions team helped the client meet their internal timelines.
