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Source of Wealth remediation exercise as part of AML compliance program
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