Anti-Money Laundering (AML) – stopping financial crime in its tracks
Whilst all compliance matters can be burdensome it is in the area of AML that the regulations are most draconian. With substantial penalties for failure, including imprisonment and unlimited fines as well as substantial adverse publicity, it is in everyone's interest not only to be compliant but to demonstrate that compliance to enforcement officers and the regulator.
Customer due diligence (CDD) and enhanced customer due diligence (ECDD) present particular problems in the current climate with an increasing number of persons being brought under the sanctions listings. Consequentially it is vital that a firm's procedures are under constant review.
Firms that fall short of their AML obligations are required to undertake substantial remediation including comprehensive file reviews and appropriate training.
Experienced AML practitioners
CCL has been providing AML consultancy services to regulated firms since the inception of the current regulation in 1994.
We have subject matter experts and practitioners to advise on a range of AML issues from routine challenges to complex matters requiring more in-depth assignments, including conducting AML remediation reviews.
Our AML procedures will capture the information required to demonstrate compliance with the regulations and provide your team with workable tools for future use.
Our AML support services
- Conduct reviews of your AML policies and procedures and their effectiveness
- Conduct comprehensive reviews of client files
- Provide expert opinion on the efficacy or otherwise of AML systems employed
- Create up to date, practical client onboarding procedures
- Provide advice regarding AML issues specific to your Firm and your regulatory environment
- Provide training to your team on your AML procedures and the AML rules & regulations that apply to your business
- Manage AML remediation projects including conducting file reviews