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 Remediation plans
Regulatory scrutiny is part of the game.
When regulators identify shortcomings in the AML framework, coming up with a well-defined remediation plan, identifying resources to oversee and implement the plan, coupled with thoughtful interaction with the regulator will speed up the process to return to “business as usual” whilst safeguarding the subject person’s reputation. We can assist in navigating through remediation challenges with the support of experienced professionals.
AML frameworks
A robust AML framework is an essential element that subject persons must implement to protect their operations from being used by criminals.
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 Training
Operations are at the forefront in the mitigation of money laundering and financing of terrorism risk.
Want to know more?
Alan Craig Advisory Partner - Birkirkara
