Certeco has recently mobilised a team of 25 to assist a global bank with adhering to strict AML regulatory protocol, in the wake of a number of banks being fined for money laundering practices. Global regulatory bodies are cracking down to ensure banks are adhering to KYC (Know your Customer) legislation and that they have the appropriate checks and balances in place to trace the source of funds.

The AML BPO service is helping banks and other financial sector businesses ensure they have the right systems, procedures and processes in place, plus regular periodic reviews and audits to recognise any potential money laundering activity. It helps banks to analyse global AML data, to flag up discrepancies and identify where there might be questionable or illegal activity taking place.

Graham Smith, Director Services and Solutions at Certeco commented: "Banks are under increasing pressure from regulatory bodies all over the world. Where AML is concerned, they need airtight audit trails in place to prove their adherence to these standards and ensure they are in no way harbouring criminal activity. Our BPO AML service has a proven track record in delivering experienced and capable 'boots on the ground' quickly, helping banks to meet tight deadlines and ensure they are compliant as quickly as possible."