TOP 10 Aml Quality Assurance Framework

aml quality assurance framework 2023 February

What does AML quality assurance and risk analysis staff do?

Aside from ensuring high data quality, AML quality assurance and risk analysis staff members also perform risk assessments and quality assurance reviews to evaluate the effectiveness of banking or non-banking financial institutions’ AML and compliance policies, controls, and procedures.

How to manage AML compliance?

AML compliance program in accordance with the AML/CFT Framework. By developing a tailor-made control program in accordance with the risk levels of your respective clients. In addition to that, a risk-based approach is adopted in order to detect and prevent all sorts of money laundering activities.

How to build an effective AML/CFT framework?

An effective AML / CFT framework requires a corporate governance structure that includes compliance professionals who are fluent in relevant legal requirements.

What is the International AML framework?

International AML Framework and Regulations Global standards: Financial Action Task Force (FATF) The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society.






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