Adil Raza

Adil Raza is an Acting Director in BDO’s Risk and Regulatory Advisory practice. Mr. Raza has over seven years of experience delivering anti-money laundering and sanctions compliance services. He has extensive experience in various components of AML Compliance Programs, including Know Your Customer (KYC), Client Due Diligence (CDD), Enhanced Due Diligence (EDD), Transaction Monitoring, Suspicious Activity Reporting and AML Training.

Mr. Raza has a strong focus on working with/for banks, broker dealers and other non- bank financial institutions such a money service businesses, payment services providers, pre-paid card service providers and casinos that offer a multitude of products and services, including retail and business banking, US dollar clearing, capital markets and trade finance. Mr. Raza has also worked with numerous corporate entities in developing and enhancing their AML and OFAC compliance program. Mr. Raza has a particularly strong knowledge of AML Compliance requirements for correspondent banking activities and has helped develop and enhance AML Programs, policies and procedures to address regulatory enforcement actions in this space.

Mr. Raza has experience assessing and validating BSA/AML systems (such as Mantas, Actimize, Prime, Verafin, Bankers Toolbox and FCRM) used for transaction monitoring and OFAC filtering, to ensuring such systems capture the necessary and appropriate data in order to detect, prevent and report suspicious activities or activities with person(s) on government sanction lists. Mr. Raza has also worked on numerous alert clearing and look engagements where he managed large teams of alert review analysts.

Prior to joining BDO, Mr. Raza served as the Head of the US Financial Intelligence Unit  for the Bank of Nova Scotia (Scotiabank). Mr. Raza oversaw the transaction monitoring and suspicious activity reporting program for the US operations of the bank which includes US dollar clearing, trade finance, capital markets and precious metals trading. Mr. Raza also served as the Head of the US Financial Intelligence Unit for the Royal Bank of Scotland prior to joining Scotiabank where he oversaw the transaction monitoring program for correspondent banking and capital markets related activity.

white puzzle piece completing regulatory compliance puzzle

5 Actions to Take Now With the New York State Department of Financial Services (“DFS”) Part 504 regulation’s first annual compliance certification deadline approaching, financial institutions must ensure compliance as soon as possible. This piece discusses practical steps to benchmark your program against the requirements. The International Monetary Fund estimates money laundering makes up between 2 and 5 percent of the world’s...

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