Crowe Horwath and IMAG To Provide AML Compliance Solution

Chicago-based Crowe Horwath LLP (FY13 net revenue of $599 million) has partnered with IMAG, the International Management Advisory Group, to provide anti-money laundering (AML) and Bank Secrecy Act (BSA) consulting services.

The joint consulting services will use Vantage, IMAG’s AML/BSA service, which links industry-accepted risk methodologies to the metrics, statistics and analysis critical to determining the effectiveness of AML and BSA programs. These metrics will allow financial institutions to prioritize their AML and BSA programs, solutions and resources to areas that pose the greatest risk.

Crowe and IMAG also will engage in a variety of consulting services that span the strategic and operational aspects of AML and BSA requirements.

“Teaming up with IMAG is a great opportunity for both of us,” says Brian Kloostra, principal with Crowe Risk Consulting Services. “We’ll be able to use Crowe’s deep operational, risk and AML/BSA expertise with IMAG’s extensive boardroom and C-suite AML advisory experience to provide financial institutions with improved ways to combat money laundering.”

Gary Peterson, president of IMAG, says, “For too long, senior management has not had the ability to understand the effectiveness of their AML and BSA programs and has been mired in a seemingly endless cycle of costly overall program remediation. Finally, AML directors and boards will have a level of certainty in evaluating the effectiveness of their programs. It will allow them to better detect, deter and report money laundering and to use a risk-based approach to focus their remediation projects on narrower program areas.”