As you realize, cash laundering and terrorism financing legal guidelines are risk-based. Which means regulated companies like yours should conduct business-wide ML/TF threat assessments. The purpose is to determine and assess the dangers the place companies is perhaps exploited by organised prison networks, laundering the proceeds of their crimes.
If your enterprise is used to launder prison funds, your enterprise may face important penalties. Monetary crime regulators like have been granted intensive powers to implement non-compliance with AML/CTF legal guidelines.
On the coronary heart of any efficient AML/CTF Program comes a transparent understanding of how your enterprise may very well be exploited by organised prison networks. This understanding hinges on varied elements, together with the services supplied, the channels these are distributed by means of, the sorts of prospects your enterprise offers with and the publicity to sure nations.
Does your enterprise perceive its threat publicity to cash laundering and terrorism financing?
Many small and medium-sized companies have the identical compliance obligations as bigger ones however typically lack the sources and in-house experience to develop ML/TF threat assessments or design, implement and preserve efficient AML/CTF Applications.
Sound acquainted? If that’s the case, you’re not alone, so Arctic Intelligence have created this factsheet on the important thing parts of an efficient ML/TF threat evaluation and AML/CTF Program so that you can obtain.
How AML Speed up may help assess your ML/TF dangers and construct an efficient AML/CTF Program.
AML Speed up has been designed by monetary crime consultants particularly for small and medium-sized firms in over 30 sectors and over 40 nations to assist information them to conduct business-wide cash laundering and terrorism financing threat assessments, doc AML/CTF Applications and observe and monitor points, breaches and incidents in real-time.
Get began with an obligation-free 14-day trial of AML Speed up immediately!
Join your obligation-free 14-day trial to AML Speed up and get entry to our multi-award successful platform utilized by lots of of firms similar to yours to conduct business-wide cash laundering and terrorism financing threat assessments tailor-made to your sector and AML/CTF legal guidelines in (and lots of others).
