Services > AML Consulting

AML/CFT Compliance Officer

Assisting you with the recruitment and/or training of your AML/CFT Compliance Officer.

Risk Assessment

We work along side you to draft a Risk Assessment that is relevant to your business and identifies your money laundering and terrorist financing risks.

AML/CFT Programme

After identifying the money laundering and terrorist financing risks in your business we work with you to put in place an AML/CFT Programme that records your policies and controls so that you can confidently meet your obligations.

Testing

You are required to have your Risk Assessment and AML/CFT Programme audited every two years, or at the request of your AML/CFT Supervisor.

We recommend that you also have your documents and controls tested before this to ensure everything is operating as it should. This is useful for someone new to the requirements of AML/CFT as it will embed the right policies and controls at an early stage. You don’t want to find out after two years that you have not been gathering the right information and have to embark on a retrospective information gathering exercise. This impacts on staff time and also presents issues for your customers. Better to get it right first time.

Remedial Action

Should an AML/CFT Supervisor's inspection or your AML/CFT Audit report identify areas that require action, we recommend that you put in place a remedial action plan.

This action plan shows the area identified that requires remedial action, details how you will action this area, the person responsible for addressing this and the date that it will be completed by. Documentation such as this provides evidence to your AML/CFT Supervisor that you have taken the areas identified seriously and taken steps to rectify deficiencies.

AML Partners can assist you to formulate your Remedial Action plans and can include drafting policies and controls along with the provision of training where necssary to enable you to meet your obligations.

AML/CFT Supervisor Inspections and Requests for Information

Should your AML/CFT Supervisor advise you that they require information or are going to conduct an inspection we can help you prepare the information required.

Generally these type of requests follow a standard format so if you have a well documented Risk Assessment and AML/CFT Programme that has been followed, you should be readily able to produce evidence to demonstrate compliance.

Annual AML/CFT Report

We can assist you with your Annual AML/CFT Report.