Synist

Your Partner in Compliance.

Financial Crime Advisory and Consulting

We provide a comprehensive set of services, resources, and continuing guidance tailored to meet the needs and requirements of your financial services firm attain and maintain industry regulatory requirements and best practices…

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Compliance AML Program

Whether as a result of an enforcement action or as a self-initiated project, Synist can work with you to evaluate, redesign and implement part or all of your compliance program…

New customer onboarding
We offer end-to-end management of KYC processes for new customers and products. This includes document gathering and validation based on policy requirements and the sourcing and interpretation of structured and unstructured data from both internal and trusted external sources…
Due diligence

Our rules-based identification, aggregation and automation of customer information across business lines, legal entities, and jurisdictions streamlines the process and is designed to accurately address the data requirements for ultimate beneficial owners (UBOs).

Customer information
Our end-to-end management of KYC processes for existing customers is based on renewal cycles and customer trigger events. The KYC process is enabled by workflow management covering tasks, automatic communications, integration of screening, Customer Due Diligence (CDD), Enhanced Due Diligence (EDD)…
Backlog, Lookback and Staffing Support
Synist provides experienced staffing to financial institutions to assist in the clearance of backlogs or to conduct lookbacks in the following areas: customer due diligence (CDD) reviews, enhanced due diligence (EDD) reviews…
Customer Risk Scoring Model Design
It is critical to evaluate the AML risk that each customer represents to the financial institution. Our team can evaluate your current state risk scoring model and advise how to enhance their customer risk scoring…
Gap Assessment

Whether due to regulatory intervention or as a self-initiated project, Synist can assess and evaluate your AML Compliance program to check whether it meets industry best practices. It is important to periodically conduct gap assessments in order to keep up with current industry AML standards and best practices…

Regulatory Response
We have successfully assisted financial institutions in connection with AML regulatory-related inquiries and responses. Our collective and unique insights, coupled with industry knowledge and regulatory know-how, help our clients meet regulatory expectations and resolve AML deficiencies in the face of regulatory scrutiny.
Risk Assessment
An integral component of a robust Compliance program is the completion of an annual risk assessment. Financial institutions should conduct tailored enterprise-wide risk assessments to evaluate the inherent risk of the various businesses at their firm against their control environment…
Transaction Monitoring
Synist also places AML investigators and project managers at our financial institution clients to assist with BAU reviews and AML investigations involving negative news, fraud, regulatory subpoenas, transaction monitoring and case investigations in order to reduce or eliminate backlogs…
Transaction Monitoring Look-Back Investigations
Whether due to regulatory intervention or self-initiated assessment, a look-back review of clients and transactions may be necessary to address potential concerns regarding transaction activity…
Model Validation
We help clients avoid the trap into which many institutions fall – not ensuring their software system is accurately capturing and analyzing AML data. Your critical activities – transaction monitoring, account profiling, customer risk rating, Currency Transaction (CTR) and Suspicious Activity (SAR) reporting – can all be adversely impacted; it’s a major risk…
Training
A large number of companies in Luxembourg and abroad, including banks, credit institutions, PSF, management companies, accounting firms, external auditors, solicitors, real estate, notaries and investment funds, must ensure that all staff receive adequate ongoing training…

Forensic Investigations

We provide forensics and fraud investigation services for a variety of controversial issues, including corporate fraud, money laundering, asset tracing and insolvency work. Our clients come from all walks of life and include individuals, privately and publicly-held companies, government entities such as municipalities…

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How We Help

No matter the origin of the investigation, you benefit from our multifaceted, partnership approach that blends our investigative expertise and experience with specialized technology and data analytics capabilities. We help you identify suspicious activity, maintain regulatory compliance, reduce legal and IT costs, protect sensitive materials, quickly find facts, and harness enterprise data to protect business value.

Investigations
Our investigations are always conducted with the highest degree of confidentiality and discretion. Our services are scalable and can be tailored to meet specific client needs. We offer a full range of solutions, from standard background checks to more complex and customized due diligence.
IDD Report Services
Our IDD Report services are fully configurable, allowing customers to select content, depending on the level of required due diligence. For example, ‘Source of Wealth’ for all directors may be required as well as who the ‘Ultimate Beneficial Owner(s)’ is.
Benefits
• Mitigate and control risk
• Protect brand reputation and shareholder value
• Confidently manage your regulatory exposure
• Our analysts cover over 240 countries in more than 40 languages
• Bespoke EDD’s to suit your exact compliance and business needs
• Attractive pricing with a fast turnaround service…
Reporting
Our reporting aims to:
* Validate the address and other details provided by the subject of our report thus ensuring that fundamental KYC checks are carried out
* Provide comprehensive information on the current and previous business activities of the subject of our report
* Provide detailed intelligence on the status of the subject and their source of funds, enabling our client to evaluate the suitability of the person/company
* Establish whether any links exist between the subject of our report and money laundering, organised crime, terrorism and/or corruption
Our Enhanced Due Diligence (EDD) reports provide objective detailed intelligence to enable you to make informed decisions about existing or prospective customers, suppliers and business partners…
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Financial Crime Advisory and Consulting

We provide a comprehensive set of services, resources, and continuing guidance tailored to meet the needs and requirements of your financial services firm attain and maintain industry regulatory requirements and best practices…

Forensic Investigations

We provide forensics and fraud investigation services for a variety of controversial issues, including corporate fraud, money laundering, asset tracing and insolvency work. Our clients come from all walks of life and include individuals, privately and publicly-held companies...