Anti Money Laundering Compliance System

  AML regulations have been changing rapidly in recent years, both in-depth and breadth. The AML 2020 Act, for example, includes the most sweeping changes in AML laws since The Patriot Act was passed in the wake of 9/11 in 2001. Among other changes, the new act focuses on: Eliminating anonymous holding companies  Expanding its definitions to include antiquities traders and virtual currencies This means companies are required to know exactly who their customers are, and businesses that facilitate the transfer of virtual currencies are under greater scrutiny. To learn more about AML compliance , check out our website. It will walk you through the best practices you need to help keep bad actors away from your business.

  Anti-money laundering training (AML) is a critical part of any business that operates in the international financial sector. Any allegations of money laundering involving your organization can cause serious reputational damage, incur severe penalties, and significantly damage one’s career. As the AML Compliance Officer, Money Laundering Reporting Officer, or Risk Manager of your company it is important that you can demonstrate you have provided adequate AML training. A company’s weakest link is always one of the employees – so company-wide money laundering awareness and compliance training are very important because it can help protect you and your organization from severe penalties if you can prove you provided sufficient and relevant AML training . While everyone understands that effective anti-money laundering training is essential, not everyone understands how to build an effective training program. The process is relatively simple and can be summed up in four steps: Use Real...