AMLKYC review

The task

A comprehensive due diligence and risk review, conducted by an experienced team of analysts, which included bilingual speakers fluent in Mandarin, Korean, Russian and Japanese, across a broad range of high risk client accounts.

The solution

Momenta sourced, selected and placed a team of 30 qualified and experienced senior analysts to support the business in:

• Investigative internal research using a variety of internet and third-party sources on prospective clients
• Checking specific customer information (and potential transactions) and account documents to research and resolve issues
• An analysis of source of wealth, beneficial ownership and other relevant risk information on existing hedge funds, mutual funds, SPV & PIV, trusts, private companies, partnerships, financial institutions, government entities, charities and pension accounts
• Running surveillance, on a daily basis, of client accounts for anomalous, high risk or negative information
• Liaising with members of the Risk, Operations, and Technology teams as well & external vendors regarding the due diligence investigations and other information requests
• Supporting core functions of the KYC Unit on media surveillance, sanctions list screening and enhanced due diligence policies and procedures

The outcome

The project ran successfully for two and half years until all outstanding issues were resolved.