AML Compliance checklist for DNFBPs
AML Compliance checklist for DNFBPs
DNFBP’s Compliance team is the torchbearer for detecting unlawful activities such as Money Laundering and Financing of Terrorism. This Infographic lists an AML compliance checklist for each step and discusses available tools to implement and monitor the AML program successfully.
An ideal AML Compliance program must have implementation tools and processes to safeguard the organisation from High-risk transactions and customers. The key elements of AML Compliance program include AML policies/procedures, periodic training, the appointment of a Compliance officer, KYC, screening software, transaction monitoring, Risk profiling and reporting suspicious transactions.
AML UAE offers AML compliance services such as AML/ CFT Policy, Controls and procedures documentation, Setting up of Compliance department, guidance on screening software selection AML/ CFT health check, and Annual AML/ CFT Risk assessment, etc.