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Uncovering a High-Profile Money Laundering Scheme for a National Wealth Management Bank
A large national wealth management and private bank entity initially engaged us to assess its Financial Intelligence Unit (FIU) operations and supplement its investigative team. During this assessment, our investigators identified a series of unusual transactions linked to a Politically Exposed Person. The transactions, involving substantial international wire transfers to and from high-risk European countries, raised immediate red flags. With potential regulatory, legal and reputational risks at stake, the bank needed expert investigative support to unravel the complexity of these activities swiftly and discreetly.
Dominion Advisory Group—now part of SolomonEdwards—assigned a forensic investigation expert to lead a small team of analysts in conducting a deep-dive investigation. Leveraging our two decades of financial crime experience, the team systematically uncovered a network of shell companies, intermediaries and cut-outs that concealed the true nature of millions of dollars in transactions. Recognizing the likelihood of regulatory and media scrutiny, our investigators meticulously compiled a “court-ready” investigation file. This comprehensive report detailed several years of transactions, tracing funds through multiple layers of opaque ownership structures to present a clear and compelling case.
The investigation’s findings gained international media coverage and prompted a multi-month trial, resulting in successful convictions for money laundering. Our ability to manage complex financial crime investigations not only safeguarded the bank’s compliance standing but also reinforced their commitment to maintaining the integrity of their operations. Moreover, this case underscored our unique expertise in handling high-risk, high-stakes 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.