Financial Crime World

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Belgian Enforcement Authorities Crack Down on Financial Crimes: KPMG Forensic Experts at the Forefront

In recent years, anti-money laundering (AML) and financial crimes scrutiny in Belgium has never been more intense. The country’s enforcement authorities are increasingly focusing their efforts on non-traditional financial institutions, and companies operating in this space must be prepared.

The Importance of AML Compliance in Belgium

  • Combating terrorist financing
  • Stopping drug trafficking and other serious crimes
  • Ensuring compliance with AML laws and regulations

Proactive Services: Staying Ahead of Compliance

At KPMG Forensic, our experts have extensive experience assisting Belgian financial institutions in assessing the strength of their compliance with AML laws and sanctions programs administered by the relevant authorities. Our team includes former regulators, law enforcement officials, prosecutors, and compliance and AML specialists from leading financial institutions.

  • Current-State Assessments: We conduct a thorough examination of the law, regulatory expectations, and leading practices from peer organizations.
  • Future-State Development: We assess and validate models and technology platforms to help our clients achieve their future state.

Reactive Services: Responding to Regulatory Action

In some cases, companies may find themselves facing significant breakdowns in their financial crimes programs. At KPMG Forensic, we have extensive experience assisting organizations with remediation efforts.

  • Transaction Monitoring Investigations: We conduct thorough investigations into transaction monitoring systems.
  • Sanctions Investigations: We investigate potential sanctions breaches and develop strategies to address them.
  • KYC File Remediations: We help companies remediate their Know-Your-Customer (KYC) files and ensure they are compliant with regulatory requirements.
  • Fraud Reviews: We conduct thorough reviews of financial crimes programs to identify potential weaknesses and areas for improvement.
  • Responses to Regulatory Inquiries or Mandates: We assist our clients in responding to regulatory inquiries or mandates related to AML compliance.

By working closely with our clients to address these complex challenges, we help ensure that they remain compliant with AML laws and regulations in Belgium.