8 Step AML Compliance Checklist
Compliance teams are the critical gatekeepers responsible for identifying and putting a stop to financial crimes like money laundering. This interactive PDF checklist will help your organization successfully implement and monitor an effective AML program.
Financial intelligence units (FIUs) have issued a record number of fines in the millions and tens of millions of dollars against organizations for not having an effective anti-money laundering compliance program.
Even as fines have been issued, financial organizations see regulatory expectations changing.
To protect them from high-risk transactions and potential bad actors, financial institutions must put processes and tools in place.
Although not containing everything needed for a perfect AML compliance program, the following eight-step checklist covers the main areas where a financial institution will need to have policies and practices in place.
Inside, we'll cover:
- What to look for in a Chief Compliance Officer
- How to perform a risk assessment
- How to maintain your AML compliance program
- The steps required to apply effective due diligence
- What goes into a successful sanctions screening program
- And more!