Financial Crime World

Tackling Financial Crimes in Saint Kitts and Nevis: KPMG Forensic’s Anti-Money Laundering Expertise

In an effort to combat financial crimes in Saint Kitts and Nevis, forensic accounting experts are focusing on anti-money laundering (AML) and economic sanctions as key tools against terrorist financing, drug trafficking, and other criminal activities.

Assessing Compliance with Financial Regulations

KPMG Forensic professionals have been working closely with financial institutions in the region to assess their compliance with Bank Secrecy Act (BSA)/AML laws and the sanctions programs administered by the Office of Foreign Assets Control (OFAC) and other regulatory bodies. With a team comprising former regulators, law enforcement officials, prosecutors, and compliance and AML experts from leading financial institutions, KPMG’s forensic accounting professionals possess unparalleled expertise in BSA/AML/OFAC review and enforcement.

Proactive Services for Financial Crimes Prevention

The firm provides proactive services to help clients develop and enhance their financial crimes programs, ensuring compliance and effectiveness across the organization. This includes:

  • Conducting current-state assessments of existing programs
  • Evaluating them against regulatory expectations and leading practices of peer organizations
  • Assessing and validating models and technology platforms
  • Enabling clients to achieve their desired future state

Reactive Services for Remediation

In addition, KPMG offers reactive services to help organizations remedy significant breakdowns that may arise, whether self-identified or as a result of regulatory action. This includes:

  • Conducting transaction monitoring investigations and lookbacks
  • Sanctions investigations
  • Know-your-customer (KYC) file remediations
  • Fraud reviews
  • Investigations in response to regulatory inquiries or mandates

Contribution to a Safer Financial Environment

By providing these services, KPMG Forensic is playing a crucial role in helping Saint Kitts and Nevis’ financial institutions stay ahead of the curve in terms of AML and economic sanctions compliance, ultimately contributing to a safer and more secure financial environment for the region.