As you understand, 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 goal 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 online business is used to launder prison funds, your online business might face vital penalties. Monetary crime regulators like have been granted in depth 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 online business might be exploited by organised prison networks. This understanding hinges on varied components, together with the services and products supplied, the channels these are distributed by way of, the kinds of prospects your online business offers with and the publicity to sure nations.
Does your online business 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 components of an efficient ML/TF threat evaluation and AML/CTF Program so that you can obtain.
How AML Speed up will 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.
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