Williams McGuire AML

Tuesday, November 15, 2011, Calgary, AB-Williams McGuire AML Inc. (WM-AML), Canada's largest dedicated anti-money laundering (AML) firm is merging with MNP, one of Canada's largest chartered accounting and business consulting firms, effective January 1, 2012. WM-AML's mission is to protect their clients and country from the harms of money laundering, terrorist financing and other financial crime through tailored, informed risk and compliance solutions. The Markham-based firm has an extensive client base across Canada, including foreign-based clients who do business in Canada and are impacted by Canadian AML legislation. Clients include credit unions, federally regulated financial institutions (FRFIs), money services businesses (MSBs), and other financial entities. The firm will join MNP's Investigative & Forensic Services practice where managing partner Matthew McGuire will become the National Leader of MNP's AML Services line. "We are very excited about Matthew and his team joining MNP. Although we had a strong AML practice already in place, we were looking to enhance this service offering and bolster our national presence and couldn't have found a better fit," said Daryl Ritchie, CEO, MNP. "This merger gives MNP unparalleled AML expertise, with experience in criminal money laundering investigations, financial regulatory bodies, and business processes and internal controls." MNP's Investigative & Forensic Services Practice Leader Greg Draper is thrilled to be adding more resources and expertise to the practice. "Not only are we strengthening our team, this merger also gives us centres of AML excellence in both Toronto and Calgary, which allows us to better serve our clients across Canada and internationally," added Draper. "This is particularly important in today's business climate. As cash becomes increasingly difficult to launder, criminals have become more sophisticated and creative when it comes to money laundering or terrorist-financing schemes." Today, financial institutions are subject to greater expectations from their regulators and must comply with requirements for record-keeping, reporting and implementing an adequate risk-based program. Failure to comply puts organizations at risk for substantial fines. "I am very pleased to be joining forces with MNP. I worked with MNP in the past on a number of engagements and was impressed with their experienced professionals across the country," said McGuire. "Managing risk in today's business environment takes specific knowledge and expertise, and MNP's experienced professionals include chartered accountants, certified fraud examiners, risk management professionals, industry specialists and former law enforcement officials. Our firms believed that together we could provide our clients more experience and resources to help them stay compliant, manage risks and achieve their goals." The AML Service Line includes a number of services to help clients remain compliant and manage risk: AML Compliance Effectiveness Reviews AML Compliance Program Testing/Assessment AML Compliance Program Development Money Laundering / Terrorist-Financing Risk Assessment Development AML Training Development and Delivery (specialized based on client's AML compliance regime) FINTRAC and OSFI Examination Support Financial Service Partner / Client AML Risk and Compliance Evaluation AML Consulting McGuire, who provides more than 50 credit unions with AML solutions, was also impressed with MNP's large credit union client base. MNP has extensive experience working with more than 130 credit unions across Canada and has a dedicated credit union team that delivers services specifically designed to help credit unions achieve their goals through a full range of accounting and consulting services. "Not only will we remain a dedicated AML expert team and continue to offer the same best-in-class services that our clients have grown to expect, but we now we have the bench strength of a dedicated Credit Union Services team to work with and deliver even more value," added McGuire. McGuire and his team will be moving into MNP's Toronto location at 701 - 85 Richmond Street West.