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Years after a large acquisition, our bank client uncovered a serious compliance risk: When merging the AML programs of the two institutions, several key alerting systems failed, allowing a backlog of unaddressed alerts and cases to accumulate. The bank’s internal resources were already stretched thin, making it impossible to resolve the backlog without compromising ongoing compliance operations. With mounting regulatory pressure, leadership needed a swift and effective solution to regain control of its AML program.
Dominion Advisory Group—now part of SolomonEdwards—responded immediately, deploying 15 seasoned AML investigators within two weeks to begin clearing the backlog while ensuring daily compliance functions remained uninterrupted.
The bank engaged three other large consulting and investigative firms to assist. Our team of financial crime experts consistently outperformed the other firms, leading to an expanded presence with the client supported by our ability to scale quickly and deliver at a higher quality.
With our support, the bank successfully eliminated the backlog without disrupting day-to-day AML operations. Moreover, because of our ability to work seamlessly and effectively with the bank, we continue to serve as their long-term co-sourcing partner for AML investigations.
Dominion Advisory Group, now part of SolomonEdwards, brings specialized expertise in anti-money laundering (AML) advisory and financial crime consulting. Learn more about our services in the Banking & Financial Services industry.