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Crowe Horwath LLP and IMAG team up to provide AML compliance solution

'Vantage’ helps financial institutions measure effectiveness of anti-money laundering programs

CHICAGO (April 10, 2014) – Crowe Horwath LLP announced that it has teamed with IMAG, the International Management Advisory Group, to provide anti-money laundering (AML) and Bank Secrecy Act (BSA) consulting services. The joint consulting services will use Vantage, IMAG’s AML/BSA service offering, which links industry-accepted risk methodologies to the metrics, statistics and analysis critical to determining the effectiveness of AML and BSA programs. Crowe, one of the largest public accounting and consulting firms in the U.S., and IMAG, a leading provider of compliance programs and compliance risk solutions to the world’s largest financial institutions, also will jointly engage in a variety of consulting services that span the strategic and operational aspects of AML and BSA requirements.

The Vantage solution provides the metrics, data and statistics that AML directors, senior management and boards of global and domestic financial institutions need to understand and manage the effectiveness of their AML programs. These metrics will allow financial institutions to prioritize their AML and BSA programs, solutions and resources to areas that pose the greatest risk. The metrics also will help these programs meet their institution’s reputation and regulatory risk concerns.

“Teaming up with IMAG is a great opportunity for both of us,” said Brian Kloostra, principal with Crowe Risk Consulting Services. “We’ll be able to use Crowe’s deep operational, risk and AML/BSA expertise with IMAG’s extensive boardroom and C-suite AML advisory experience to provide financial institutions with improved ways to combat money laundering.”

“By working with Crowe Horwath and leveraging its deep AML and risk skills as well as its proven tools, we can provide AML and BSA compliance risk and effectiveness metrics to financial institutions of every size and in every line of business,” said Gary Peterson, president of IMAG. “For too long, senior management has not had the ability to understand the effectiveness of their AML and BSA programs and has been mired in a seemingly endless cycle of costly overall program remediation. Finally, AML directors and boards will have a level of certainty in evaluating the effectiveness of their programs. It will allow them to better detect, deter and report money laundering and to use a risk-based approach to focus their remediation projects on narrower program areas.”

For more information, visit www.crowehorwath.com/industries/financial-services/aml.aspx.

For more information about Vantage, visit www.imagny.com.

About Crowe Horwath
Crowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting and consulting firms in the United States. Under its core purpose of "Building Value with Values®," Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe and its subsidiaries have offices coast to coast with more than 3,000 personnel. The firm is recognized by many organizations as one of the country's best places to work. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world, consisting of more than 150 independent accounting and advisory services firms in more than 100 countries around the world.

About IMAG, the International Management Advisory Group
For over 20 years, IMAG has offered a full range of consulting and advisory solutions to Boards, senior management teams, Chief Compliance Officers and AML Directors of global and US financial institutions regarding regulatory compliance and compliance risk programs.  IMAG has deep expertise in AML, BSA, OFAC and Global Sanctions programs and specializes in assisting financial institutions which have encountered or face serious and significant regulatory issues, fines and penalties requiring complex and large scale program and risk remediation.  

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