A recent German-wide BearingPoint study on AML and fraud prevention measures showed that 75 % of the respondents believe that regulatory requirements will increase with an strong impact on processes, systems, policies, documentation, and training.

In addition, various new national regulations (e.g. German Banking Act, AML law, Fraud guideline), upcoming European regulations (fourth EU Anti Money Laundering Directive) and feedback from the Federal Financial Supervisory Authority (BaFin) – for example on vulnerability analysis – demonstrate the need for effective compliance management.

How BearingPoint brings value

Our AML/fraud compliance solutions are intended to support financial service providers and related industries in the identification and transformation of new national and international legislations by implementing tailored processes, systems and policies to fulfill these requirements.

Key components are:

• Anti-money laundering
• Fraud prevention
• Financial sanctions and embargo
• Policies
• Know your customer
• Customer due diligence
• Counter terrorism financing
• Politically exposed persons (PEP)
• Ultimate beneficiary
• Compliance reporting
• Training

The BearingPoint team has more than a decade of substantial project experience within the main areas – anti-money laundering, financial sanctions/embargo and fraud prevention. It has concluded various projects in private banking, co-operative and public sector, which means that BearingPoint can draw on relevant experience for a project of any size.