Bates Group’s dedicated team of former senior legal and compliance officers, Certified Fraud Examiners (CFEs), and Certified Public Accountants (CPAs) not only has decades of experience conducting internal reviews but extensive hands-on experience undertaking Asset Tracing and Anti-Money Laundering Investigations.
Making full use of proprietary tools and reports developed by our top-tier IT and programming teams, using recognized software platforms such as i2, SAS and Python, we have demonstrated time and again our ability to quickly trace assets and help uncover attempts to launder money or commit fraud. The accompanying visualization tools also allow us to clearly present asset flows to regulators, juries, law enforcement or other audiences. The clarity of these presentations is often a key contributing factor in the favorable resolution of these matters.
In a well-publicized bankruptcy involving a broker-dealer, we managed millions of data points across competing databases. With our IT team and in-house programmers, we efficiently searched each database and succeeded in tracing the movement of the firm’s assets under management (customer funds) in the weeks prior to bankruptcy. In turn, this enabled our team to identify and illustrate when assets had been used inappropriately.
No Parking Allowed
In another matter, the compliance department of a major broker dealer retained us to investigate allegations that an individual financial advisor was “parking” stock purchases in customer accounts, only to cancel these trades and move them to his personal account when the stocks went up. By analyzing internal trade correction records, error reports, trade confirmation slips, time and sales reports, and email correspondence, we quickly identified and documented each unauthorized transaction, allowing our client to promptly resolve this investigation.
AML Policies & Procedures
Bates is also available to assist you in creating and auditing your AML policies and procedures and meeting your annual AML certification requirements, and our Internal Investigations team can quickly assist you in investigating suspicious activity.