ComplianceAid provides Independent testing of Anti-Money Laundering Compliance Programs designed for the financial institutions. ComplianceAid proven track record of success and satisfied clientele make it a trusted partner for your AML Independent Audit needs.
Our Subject Matter Experts (SME) are Certified Anti-Money Laundering Specialists (CAMS) who posse the field experience, education and knowledge to perform your business’s AML Audit. Our SME's conduct an independent evaluation of AML risks and develop a sustainable, cost-effective solution to preventing money laundering. We assist businesses with strengtening their AML/CTF compliance program and identify any gaps in the process.
ComplianceAid AML Independent Audit Program includes but not limited to:
- A complete review of your business’s AML/CTF compliance program
- Analysis of specific country regulatory requirements
- Evaluation of AML training programs
- Testing of policy and procedures
- Transactional testing and evaluation
- Assessment of the functions and responsibilities of the institution’s compliance officer
- Customer Due Diligence, “Know Your Customer” (KYC) including source of wealth, risk-based and customer identification program (initial and on-going)
- Assessment of an adequate risk assessment of products, services, customer base, and geographic location
- Monitoring and escalation process for suspicious activity reporting, including parameters for alert system
- Business compliance with sanctioned territories, individuals and escalation procedures
- Business compliance with politically exposed persons and beneficial owners
- Review of past aml audit reports to assess the effectiveness of implemented changes