AML Remediation plans
Regulatory scrutiny is part of the game.
AML Training
Operations are at the forefront in the mitigation of money laundering and financing of terrorism risk.
It is important to equip them with the required knowledge and tools to be able to safeguard the entity's exposure to this risk. Effective training is critical in this regard. Training is also relevant to the second, third line of defence as well as the Board of Directors, allowing them effectively oversee the AML framework.
The MLRO should champion and lead the effective implementation of the AML program. In an ever-evolving legal and regulatory environment, this role brings about challenges and difficulties.
We can provide the support and mentoring required to the MLRO.
Business risk assessment (BRA)
The Business Risk Assessment (BRA) allows the subject person to ensure that the current business model is in line with its risk appetite. In order to be effective, it must be drawn up using reliable quantitative and qualitative data and be regularly revised.
AML Effectiveness Review
Traditionally, compliance reviews were mainly skewed to the design of policies and procedures against regulatory requirements. However, when put to the test, how effective are control frameworks in managing real ML/FT risk?
AML frameworks
A robust AML framework is an essential element that subject persons must implement to protect their operations from being used by criminals.
Want to know more?
Alan Craig Advisory Partner - Birkirkara
