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      Cendrowski_Header-Images_RealEstate_CAllOut

      Real Estate Focused Expertise

      Our real estate specialists can assist you with alternative planning techniques, provide advice on transaction structuring, scrutinize tax returns prepared by other firms, and more.

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      OS_IntrimCEO_Succession_CallOut

      Simplifying Equity and Ownership in Construction

      Collaborate with our consultants to simplify the process of using an ESOP to tailor a strong succession plan, build wealth with equity and ownership, boost recruiting and client retention, and more.

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  • About Us
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      • Harry Cendrowski
      • John T. Alfonsi
      • Kristina M. Borsheim
      • James P. Martin
      • Walter M. McGrail
      • Maureen A. Nulty
      • Louis W. Petro
      • Catherine Raker
      • James F. Schultz
      • Kaitlyn E. Smith
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  • What We Do
    • Tax
      • Business Tax Services
        • Tax Planning Strategies
        • Tax Planning & Compliance
        • Wealth Transfer & Business Succession Planning
        • Cost Segregation Studies
        • Small Business Stock Gain Exclusion
        • Opportunity Zones Planning
        • Qualified Small Business Stock Planning
        • Tax Controversy
        • Transfer Pricing
      • High Net Worth Tax Services
        • Family Office Tax Structuring & Compliance
        • Generational Succession Planning
        • Gift & Estate Planning
        • Tax Structuring & Compliance
      • Real Estate Tax Services
        • Entity Structuring and Tax Compliance
        • REIT/UPREIT Structuring
      • International Tax
        • Expatriation Compliance
        • Financial Asset Disclosure
        • Tax Planning & Compliance for Foreign Assets
      • Succession Planning
        • ESOP Planning
        • RollUps/UPREITS
        • Buyouts & Compensatory Transfers
    • Advisory
      • Business Valuation Services
        • Financial Reporting
        • Income, Estate & Gift Valuations
        • Intellectual Property Valuations
        • Marital Dispute Valuations
        • Mergers & Acquisitions Valuations
        • Shareholder Dispute Valuations
      • Dispute Advisory
        • Economic Damages Services
        • Expert Witness Testimony
        • Forensic Accounting
        • Financial Disputes & Investigations
        • Marital Dissolution
        • Receivership Services
        • Shareholder Disputes
      • Due Diligence
        • Cybersecurity
        • Enhanced Customer Due Diligence
        • Operational Assessments
      • Family Office Advisory
        • Direct Investment Due Diligence and Valuation
        • Family Governance & Succession Planning
        • Family Office Operational Assessments
        • Operational Assessments for Portfolio Companies
      • Cannabis Services
        • Background Investigations
        • Entity Formation & Startup
        • MMFLA State License Application
        • Tax Return Preparation
      • Private Equity/Venture Capital Advisory
        • Back Office Services
        • Background Investigations
        • Due Diligence
        • Tax Structuring & Compliance
      • Risk Management Services
        • AML Compliance
        • Crisis Management
        • Cybersecurity
        • Enterprise Risk Management
        • Governance Advisory
    • Outsourced Accounting & Finance
      • Interim CFO
        • Strategic Planning
        • Accounting Systems Review/Analysis
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      • Outsourced Family Office Services
        • Back Office Support
        • Philanthropic Planning & Administration
        • Family Governance & Succession Planning
      • Client Accounting Services
      • Tax Outsourcing
  • Who We Serve Overview
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  • About Us
    • Team
      • Cendrowski
      • Maureen A. Nulty
      • John T. Alfonsi
      • James P. Martin
      • Walter M. McGrail
      • James F. Schultz
    • Alliances
    • Careers
  • Get in Touch
Make a Payment
Make a Payment
Cendrowski Corporate Advisors Logo
  • What We Do
    • Tax
      • Business Tax Services
        • Tax Planning Strategies
        • Tax Planning & Compliance
        • Wealth Transfer & Business Succession Planning
        • Cost Segregation Studies
        • Small Business Stock Gain Exclusion
        • Opportunity Zones Planning
        • Qualified Small Business Stock Planning
        • Tax Controversy
        • Transfer Pricing
      • High Net Worth Tax Services
        • Family Office Tax Structuring & Compliance
        • Generational Succession Planning
        • Gift & Estate Planning
        • Tax Structuring & Compliance
      • Real Estate Tax Services
        • Entity Structuring and Tax Compliance
        • REIT/UPREIT Structuring
      • International Tax
        • Expatriation Compliance
        • Financial Asset Disclosure
        • Tax Planning & Compliance for Foreign Assets
      • Succession Planning
        • ESOP Planning
        • RollUps/UPREITS
        • Buyouts & Compensatory Transfers
    • Advisory
      • Business Valuation Services
        • Financial Reporting
        • Income, Estate & Gift Valuations
        • Intellectual Property Valuations
        • Marital Dispute Valuations
        • Mergers & Acquisitions Valuations
        • Shareholder Dispute Valuations
      • Dispute Advisory
        • Economic Damages Services
        • Expert Witness Testimony
        • Forensic Accounting
        • Financial Disputes & Investigations
        • Marital Dissolution
        • Receivership Services
        • Shareholder Disputes
      • Due Diligence
        • Cybersecurity
        • Enhanced Customer Due Diligence
        • Operational Assessments
      • Family Office Advisory
        • Direct Investment Due Diligence and Valuation
        • Family Governance & Succession Planning
        • Family Office Operational Assessments
        • Operational Assessments for Portfolio Companies
      • Cannabis Services
        • Background Investigations
        • Entity Formation & Startup
        • MMFLA State License Application
        • Tax Return Preparation
      • Private Equity/Venture Capital Advisory
        • Back Office Services
        • Background Investigations
        • Due Diligence
        • Tax Structuring & Compliance
      • Risk Management Services
        • AML Compliance
        • Crisis Management
        • Cybersecurity
        • Enterprise Risk Management
        • Governance Advisory
    • Outsourced Accounting & Finance
      • Interim CFO
        • Strategic Planning
        • Accounting Systems Review/Analysis
        • Succession Planning
      • Outsourced Family Office Services
        • Back Office Support
        • Philanthropic Planning & Administration
        • Family Governance & Succession Planning
      • Client Accounting Services
      • Tax Outsourcing
  • Who We Serve Overview
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  • About Us
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      • Maureen A. Nulty
      • John T. Alfonsi
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      • Walter M. McGrail
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Risk Management Services

Home » Services » Advisory » Risk Management Services » AML Compliance

Anti-Money Laundering (AML) Compliance

Anti-money laundering (AML) programs are required for financial institutions, money services businesses, investment firms, and other organizations that may process large cash (or cash equivalent) transactions. Cendrowski Corporate Advisors is frequently engaged by these organizations to assist with the evaluation and development of AML processes.

Anti-Money Laundering Compliance Programs

Our seasoned team of AML specialists assists organizations with the development, evaluation, and improvement of AML compliance programs, including:

  • Common improvements include updating the program for new requirements (i.e., beneficial ownership detection), updating and augmenting written documentation, and development of staff training programs
  • Regulatory examination to provide a dry run of the inspection to identify defects in the design and make recommendations for improvement
  • Assistance to financial institutions under FDIC memorandum of understanding to resolve compliance issues

The Bank Secrecy Act (BSA) and its implementing regulations, most notably the USA PATRIOT Act, defines rules to help detect and report suspicious activities that may be money laundering indicators. Other regulatory organizations, such as the FDIC, NCUA, and FINRA, have also implemented their own rules and guidelines for compliance with the regulations.

CCA_CaseStudy_04
Client Success: Regional Bank Review

Cendrowski Corporate Advisors was engaged by a regional bank to perform a comprehensive review of their anti-money laundering procedures, including customer due diligence programs, customer procedures, AML training programs, and current staff capabilities.

Additionally, our AML specialists performed a look-back review of all accounts and transactions flagged by the bank’s AML monitoring system to evaluate the bank’s capabilities to detect and report potential money laundering in accordance with all applicable BSA reporting requirements. Our team’s work product was favorably received by the FDIC.

BSA and AML Lookbacks for Banks and Credit Unions

Cendrowski Corporate Advisors frequently works with banks and credit unions to help them assess and implement procedures related to their Bank Secrecy Act (“BSA”) Compliance Programs. Our team members have handled money laundering cases locally and nationally and monitored fraud activity for large banks and credit unions. In many situations, we have assisted the bank while they were under FDIC scrutiny.

Our dedicated and experienced team will review, assess and develop the bank’s written program for monitoring and reporting suspicious activity to comply with all applicable requirements of the FDIC’s Rules. We also provide training for the bank board of directors, management, staff, and BSA Staff regarding their responsibilities for identifying and reporting suspicious activity, including filing Suspicious Activity Reports (SAR).

As an independent and qualified third party, Cendrowski Corporate Advisors can:

  • Perform lookback reviews of deposit accounts and transaction activity to ensure that all suspicious activity involving any accounts of, or transactions through, the bank were properly identified and reported in accordance with all applicable BSA reporting requirements
  • Consult on BSA Risk Assessment procedures to include all risk areas, including any new products, services, targeted customers, entities, and geographic locations
  • Assist banks with the development and implementation of a written Customer Due Diligence (CDD) Program. The program requires a risk-focused assessment of the customer base to determine the appropriate level of ongoing monitoring necessary to ensure that the bank can reasonably detect suspicious activity
  • Conduct enhanced customer due diligence (ECDD), performing extensive background and relationship investigations, including in-person interviews, when needed, to document the underlying business arrangements of the customer

Know Your Customer Programs

Know Your Customer programs (KYC) help organizations verify their customers’ identities and assess their risk to the organization. These programs require the organization to understand fine details about the account holder, including the nature of their business, source of income, and business relationships.

  • As the organization processes cash transactions for the account holder, the transaction must be evaluated against the understanding of the business to identify suspicious activity
  • KYC risk assessment processes must be ongoing, not a one-time evaluation, and need to involve different areas of the organization to be comprehensive
  • Training is essential, so people across the organization understand their role in the KYC/AML program
John Alfonsi and 2023 Mid-market Deal Maker Symposium

John Alfonsi Panelist at the 2023 Mid-Market Deal Makers Symposium

Join us in congratulating John Alfonsi on being selected as a Panelist at the 2023 Mid-Market Deal Makers Symposium on January 10th – 13th. This year’s exclusive symposium for Deal Makers members will be held at the luxurious SLS South Beach in Miami, Florida. Deal Makers members are coming together for networking, education, and fun. […]

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GGI World Conference Recap

GGI World Conference Recap

Attending GGI World Conference is just one way we expand our knowledge. We also broaden our access to an extensive network of expertise and contacts through GGI Global Alliance. That opens a world of resources to benefit you. Harry Cendrowski attended Montreal’s GGI World Conference as global chair of the GGI Trust & Estate Planning […]

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GGI World Conference Recap

October 2022 Smart Business Dealmakers Conference: Chicago

Join Harry Cendrowski on Wednesday, October 12, 2022 at the SMART BUSINESS Dealmakers CONFERENCE in Chicago. Cendrowski Corporate Advisors returns to this fall conference as a sponsor and host committee member. In a session presented by Cendrowski Corporate Advisors and Alex. Brown (a division of Raymond James), Harry moderates a lively discussion on creating liquidity […]

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