Reducing the Risks and Costs of Regulatory Compliance

DFS Appointed Monitor for Global Banking Group

From 2013 to 2016, the Mizen team served as Banking Operations and Technology experts supporting the DFS appointed Monitor for a Global Banking Group operating in New York, with overall responsibility for examining and reporting on the Correspondent Banking technology capability, sanctions screening and AML alert generation and clearance.

Approach

Using our proprietary investigative tool, SDIP, to detect suspicious transactions, the Mizen team spearheaded a review of the Bank’s international network, visiting 18 countries to conduct BSA/AML related reviews including completing KYC file reviews, updating policies and procedures and assisting with technology operations.

Mizen Results

Using our Assessment methodology, the Mizen team provided independent oversight and performed validation on the implementation of an Anti-Money Laundering (AML) system for Correspondent Banking.

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