Financial Compliance and Investigative Services, LLC (FCIS) is a professional consulting and advisory service with over 40 years of experience. Specializing in assistance to financial institutions, law firms and accounting firms we provide expert assistance in all matters concerning compliance with the Bank Secrecy Act, Anti-Money Laundering laws and Terrorist Financing regulations. In addition, we have been providing guidance in every aspect of financial investigations including white collar crime, criminal and civil tax, forensic accounting, bankruptcy review, securities and insurance fraud, forfeiture assistance and support in preparing for litigation and trial. Our goal is to provide clients with professional assistance and the best service to meet their needs.
PO Box 508, Lafayette Hill, Pa 19444
We assist in understanding all requirements, the basis for the regulations and preparation for regulatory examinations.
Preparation of risk assessments, policies and procedures are essential in establishing the pillars of an effective program. This includes conducting due diligence, identification of high risk, effective monitoring rules and proper training of employees.
Proper customer identification followed by due diligence identifies those high risk customers where EDD is warranted to assess the risk appetite for financial institutions.
Financial crimes are growing exponentially given the growth of technology. Forensic accounting identifies "who" while linking "when and how".
Tax investigations are a by product of financial crimes. Intent is an element of crime that needs to be analyzed along with the complexity and breadth of the actions to determine if criminal prosecution is warranted.
In both civil and criminal trials attention to detail is an absolute requirement. This requires a thorough interview of all witnesses and an understanding of the documents to be presented as evidence.
Joe Salerno is certified in Federal Court as an Expert Witness in Anti-Money Laundering. He has spent more than 35 years in Federal and State law enforcement as well as in the banking industry. Joe has expertise in the analysis of sophisticated financial transactions, strategic planning and development, delivery of organizational policy and problem solving techniques.
For several years Joe was involved primarily in the investigation of organized crime and political corruption focusing on the profits derived from illegal activities and the methods used to launder the funds. He spent 25 years with IRS-Criminal Investigation (IRS-CI) in various positions starting as a special agent and later at supervisory levels with Top Secret Security clearance. In addition, Joe was a member of the Joint Terrorism Task Force involved in almost every type of complex financial investigation possible. Having served more than 20 years in management with IRS-CI, Joe also established a training program that was utilized to train all front line supervisory personnel throughout the country.
After leaving the government, Joe established an Enhanced Due Diligence program for a large financial institution providing a risk based approach to identify and mitigate issues relating to High Risk customers, products, and services. He also supervised all operations relating to the Bank Secrecy Act and Anti-Money Laundering. Currently Joe provides consultant services to large and small financial institutions in all areas relating to the Bank Secrecy Act as well as to law firms, accounting firms and the Federal Court in areas relating to forensic accounting and fraud.
Joe is a graduate of Villanova University with a BS in Accounting. Speaking engagements on Anti-Money Laundering, Financial Fraud and Forensic Accounting include the ABA/ABA National Anti-Money Laundering Conference, Washington, D.C.; International Association of Financial Crimes Investigators National Conference and Regional Conferences; Institute for Intergovernmental Research Money Laundering Conference, New York, NY; Better Business Bureau Seminars; Federal Law Enforcement Training Center (FLETC) and State Police Academies. Joe has also coordinated Financial Institution Seminars for Fraud and AML/BSA Officers discussing trends in Fraud, Money Laundering, Regulatory Controls and the Role of the Federal Government Investigations with presentations by US Attorney’s Office, Federal Bureau of Investigation, Internal Revenue Service – Criminal Investigation, High Intensity Financial Crimes Area (HIFCA) Director, Federal Regulators, and Financial Crimes Enforcement Network (FinCEN).
Helpful Links for Financial Institutions
Government Agency Links The agencies listed below can assist in financial crimes, each having their own area of expertise:
Reference Documents The listed sites will provide background and useful reference material for litigation, due diligence and investigations: