Keep your staff up to speed with AML training
Staff training is one of the key requirements of an AML/CFT programme. It's important for your staff as it gives them the knowledge and skills they need to help your company meet its AML obligations.
Your annual AML/CFT report is due between 1 July and 31 August 2023. Get started now!
The Financial Markets Authority and Department of Internal Affairs released updated guidance on outsourcing Customer Due Diligence that reiterates a very important message for anyone using third parties to manage it.
Verifying your customer’s identity is a process. Sometimes it’s simple. Often, it’s not. But we can all agree we want it to be quick.
As sponsor of the AML SUMMIT, we joined 400+ AML/CFT professionals live and online at the two-day conference.
High-value dealers prohibited from buying or selling goods with cash transactions of $10,000 or more.
Every business prides itself on knowing its customers. Understanding their needs, wants, and behaviours is the foundation on which a business grows.
Typically, customers who use the same products and services tend to behave in the same way, with similar patterns of transactions and activities. And when a customer is acting unusually, i.e. outside the expected pattern of behaviour, it’s easy for businesses to spot this.
Record-keeping is a vital part of your AML/CFT programme, as it is the source of truth for all your activities. Without good records you cannot prove to external auditors and the Supervisors that your company is doing AML and that you are compliant.
Finding your AML auditor is one of the first steps to take when it comes to preparing for your three-yearly AML audit. But to make sure you're as ready as you can be, there are a couple of key areas you have to look at beforehand. In this blog you'll find my quick run-down of the important things you need to do before you have your AML audit, and an opportunity to download our free guide to AML Audits.
If the time for your AML audit is rapidly approaching, the most important question at the forefront of your mind should be: who will be my AML auditor?
