Patriot Group Task Force
Members, Association of Certified Anti-Money Laundering Specialists

     

AML Regulatory Compliance
Are we in compliance with the U.S.A. Patriot Act regulations?
How should I respond to challenges by regulatory agencies?

The Patriot Group Task Force was formed specifically to provide advisory services and create anti-money laundering programs for the precious metals industry, the precious stones and the jewelry business, and coin dealers.  We scale programs to your company size and laundering risk--affordably and without disrupting your systems and staff.

What is Money Laundering?  When money laundering touches a business, Gresham's law applies: "Bad money drives out good."  Money launderers disguise the source of money by changing its form or by moving it to a place less likely to be noticed.  Then they legitimize ("launder") the money by injecting it into the financial system to use undetected.  Aggregate money laundering is estimated at 2% to 5% of the world's GDP--between $600 million and $1.5 trillion.  It surrounds us and can touch us at any time.  The USA Patriot Act is aimed at stopping the flow of laundered money to terrorists.  The Act enlists your help

We will help you face the difficult new challenges posed by the USA PATRIOT Act. We will support you in complying—and staying in compliance.   And we’ll do it without jeopardizing your company’s business or culture:

bulletChoose the right compliance officer.  We offer special training and a risk assessment program.
bulletIdentify your exposure to money laundering and the boundaries of your responsibility.  
bulletCreate internal policies, procedures and controls.  These must be written.
bulletSet standards for engaging customers—new and old.
bulletVerify your counterparties against Treasury Department lists with our search engine.  
bulletRed-flag laundering practices identified by the Treasury Department.
bulletTrain your staff, with our interactive, online courses..
bulletTest to confirm independently that your AML program works.  Try our audit-friendly software.
bulletReview new installations.

To help you meet the new regulatory requirements, our Task Force combines expertise in regulatory compliance, software design and legal procedures.  We know the precious metals, numismatic and jewelry industries and their vulnerabilities, so we can cut straight to your particular situation. 

For 25 years, clients have relied on Materials Management for problem solving, trouble-shooting, planning and project development.  We support the small and medium-sized companies typical of businesses in precious metals and stones.  If you don’t have in-house legal departments or large IT staffs and don’t want to pay stiff legal and programming fees, we can help.  By outsourcing to our Task Force, you’ll reduce your costs and save key managers weeks of time and diversion.  

The Task Force will provide you with a complete anti-money laundering program or the individual components you need, including:

bulletRisk-assessment program
bulletWritten anti-money laundering program,
bulletCustomer information program and supporting software
bulletSearch engine to check Government lists of launderers
bulletAML training courses for your Compliance Officer and staff
bulletSystems testing and audit-friendly software  
bulletReviews to check the adequacy of new AML programs.

Click here for our Catalog of AML Programs  

To learn more about The Patriot Group Task Force:

Click here.