Source of Wealth (SoW) remediation exercise as part of its AML compliance program

Business Challenge
  • A US based bank with significant customers in Latin America wanted to remediate the source of 5000+ customers from over 100 countries
Solutions
  • Conducted Source of Wealth remediation exercise solutions
  • Memos included identification and analysis of the source of wealth and funds of bank’s PEPS and high-risk customers
Impact
  • The team successfully delivered the entire population within the revised deadline and budgets
  • About 1000 Source of Wealth memos