LegalEase’s AML Expertise: Fortune 500 Investment & Banking Firm Successfully On-boards Institutional Client
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.
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.
