AML is an area of growing significance with the potential for personal liability for firms. There is value in having reviews and reporting prepared by an independent expert or at least reviewed and commented on independently to aid credibility internally, with banking service providers, regulators etc. e.g. for example, the annual MLRO report. It helps avoid the allegation of the MLRO ‘marking their own homework’. It also may add more weight, as it reduces the risk that over-familiarity might downgrade the impact of conclusions for internal stakeholders. Additionally, it brings an outside expert’s perspective which may add more rigor to the review.
What we can do, for example:
1. An Interview with the MLCO & MLRO (who may be the same person)
2. A Review of AML Policies, Procedures and Controls
3. Review a number of sample files
4. Interview some staff members
5. Report in writing on our findings with Recommendations
6. Follow Up Remote Review to ensure the recommendations have been implemented
We will work with SME businesses (primarily Fintechs and start-ups) in the following sectors in the UK:
Feel free to contact us, ideally by using the 'How can we help you?' form below.
Other AML Support for Financial Services Firm
We can also help with FCA Licencing or Registration