The Department of Internal Affairs (DIA) reviewed 60 reporting entities’ compliance with independent audit requirements and concluded that there is room for improvement for everyone.
Reporting entity weaknesses exposed by DIA audit review
Posts about AML (2):
What good AML training looks like for your staff
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.
5 things to cover for suspicious activity reports
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.
AML Record-Keeping Rundown
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.
How can you best prepare for your AML Audit?
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.
How to choose the best AML Auditor
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?
Highlights from the AML Summit 2022
Every year the AML Summit brings together New Zealand's AML/CFT professionals, experts, and industry leaders. We were there in the thick of it, and have pulled together some of the highlights from the two days. See our recap of the event, below.
4 top tips for managing your AML
You have to do AML — but it doesn't have to take your whole day. Read our 4 top tips for managing your AML/CFT programme better.
1. Get the business working as a team
Your frontline staff, compliance team, and management must work together as a team to meet the business AML obligations.
