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New Protiviti Anti-Money Laundering Guide Provides Insights Into Challenges And Strategies For Managing Money Laundering Risks

MENLO PARK, Calif., Nov. 12, 2012 /PRNewswire/ -- Protiviti (, a global consulting firm, has published a new version of its Guide to U.S. Anti-Money Laundering Requirements: Frequently Asked Questions for organizations faced with the everyday challenges of identifying and preventing money laundering. The fifth edition of the guide ( covers a wide range of topics from the basics of anti-money laundering (AML) and sanctions compliance to detecting terrorist financing and money laundering schemes.


Based on input from clients, attorneys, regulators and other anti-money laundering experts, Protiviti's Guide to U.S. Anti-Money Laundering Requirements is one of the most comprehensive documents of its kind. With practical answers to more than 1,700 questions, the guide has become a valued resource to senior management, compliance officers, internal auditors and other AML practitioners working to address a growing body of both AML and sanction-related requirements and regulatory expectations.

"Money laundering and sanctions compliance issues remain very much in the headlines," said Carol Beaumier, executive vice president of Protiviti and the firm's global financial services industry and regulatory leader. "Our guide provides clear and concise responses to the myriad questions that arise on a day-to-day basis in the design, implementation and maintenance of effective anti-money laundering and sanctions compliance programs."

The fifth edition of the Guide to U.S. Anti-Money Laundering Requirements features many new and updated sections, including:
  • FATCA – Addresses the basic requirements of the Foreign Account Tax Compliance Act (FATCA) and the intersection of FATCA and AML.
  • New and Proposed AML Program Requirements – Explains the new requirements for non-bank mortgage lenders and the proposed requirements for Government Sponsored Enterprises (GSEs).
  • Prepaid Access Devices ‑ Considers the impact of proposed requirements on money services businesses and on cash reporting and other Bank Secrecy Act recordkeeping and reporting requirements.
  • Reporting and Recordkeeping Requirements – Explains the recent changes to Currency Transaction Reports and Suspicious Activity Reports as well as the introduction of the Treasury Department's Part 561 List of foreign financial institutions that have been deemed to be engaging in activities prohibited by the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010.
  • Convergence of Anti-Money Laundering and Other Crimes – Looks at the risks and expectations for financial institution AML programs to identify crimes such as human trafficking and elder financial abuse. 
  • International Perspectives – Provides an update on guidance issued by the spell out and other international bodies.

"We are pleased to share the views and perspectives we have developed through our extensive AML and sanctions compliance work with financial and non-financial institutions," Beaumier said. "We hope this new edition of the guide continues to serve as a valuable tool for companies to evaluate and benchmark their AML and sanctions compliance programs."

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