Family office with diversified investments · Financial services / Investment · Spain
The challenge
The family office needed to strengthen its compliance framework to meet anti-money laundering (AML) rules. That meant implementing a system to automate due diligence on counterparties while also training the team in the new procedures.
What we did
- With AML-accredited technical auditors from our network, we audited the existing procedures.
- We selected and implemented a RegTech platform from one of our partners, automating know-your-customer (KYC) checks and transaction monitoring.
- We drafted the compliance manual, and lawyers from our network validated the framework as a whole.
The outcome
- AML system implemented and operational in 60 days.
- 80% of due diligence processes automated, reducing the risk of human error.
- With the new compliance framework in place, the family office subsequently passed a regulatory inspection.
Services involved: Global Regulatory Strategy · Implementation and Technology · Global Law and Integrated Legal Advisory.
