Category: Alerts

Alaric Compliance Alert: AML Exams - Reducing the Risk of AML Violations

In 2018, worldwide fines for AML violations grew to $3.4 billion up from $2.12 billion the previous year, according to Corlytics, a Dublin-HQ global regulatory risk intelligence firm.”1 More than half of these fines were levied by US Regulators who have increased the rigor of their examinations. “With the number and value of fines growing, buy-side and sell-side firms are returning to the basics of evaluating their data sources, rules and technology along each part of their AML programs.”2 How best to ensure that a firm’s AML Program is up to standard with what the regulators expect has become a leading topic among compliance departments, especially in light of the ever changing AML requirements.

The February 21, 2019 FINOPS Report article “AML Exams: Data Quality Takes Center Stage” by Chris Kentouris, explores this topic through the discussion of the regulators’ expectations and what firms should do in order to reduce the risk of being cited for an AML violation. Claudia Ranieri, Director at Alaric Compliance Service, LLC was quoted in this article regarding the breadth of the AML examinations and the expectations of the regulators.

“Regulators will want to see the data and results from a particular timeframe for multiple processes ranging from customer onboarding all the way to transaction monitoring and submission of suspicious activity report (s).” says, Claudia Ranieri, an Alaric Director.


Is your firm prepared for the rigor of an AML examination? Alaric Compliance can help.

What we offer:

  • Turnkey Services, including Mock Audit Programs, AML Reviews and On-Site Exam Support
  • Ongoing Monitoring and Testing Services
  • Technology driven Compliance Program Reviews

To learn more about Alaric’s services call or email us at 1-888-243-2448 or

1 February 21, 2019, FINOPS Report article “AML Exams: Data Quality Takes Center Stage” by Chris Kentouris.
2 Ibid.

Back to Alerts
Request a Proposal