Industries > Banking & Financial Services > Banks/Financial Institutions

Post 9/11, banks and financial institutions are currently being scrutinized aggressively by the Treasury Department for anti-money laundering activities. The systems of the banks and financial institutions need to ensure that they comply with Patriot Act and the OFAC to track the money flow in case of any investigation. Additionally Sarbanes-Oxley Act for public companies needs extensive reporting from different applications. Knowledge Space International has a firm track record of work experience in the above areas.

Knowledge Space International solutions supports companies for Compliance Management through:

Standard operating procedures for storage, retrieval, dissemination, protection, preservation, and destruction of recorded information associated with all business operations.
Systematically developed retention guidelines that specify how long records are to be kept and fully address a company's legal, fiscal, regulatory, and administrative requirements, as determined through consultation and collaboration with corporate legal, tax, and finance departments as well as knowledgeable personnel in other business units.
Procedures for the timely and secure destruction of corporate records when prescribed retention periods elapse is very important, including provisions for suspending the destruction of records if warranted by litigation.
Design and implementation of manual and computerized methods for convenient retrieval and dissemination of recorded information when needed.
Cost-effective arrangements for storing inactive records that need to be retained for legal, fiscal, regulatory, or administrative reasons.
Policies and procedures for identifying and protecting records deemed essential for continuity of mission-critical business operations.
Compliance assessment initiatives to monitor, audit, and enforce records management policies and procedures.