Evidence Based Compliance

A PDF is available below to download.

Anti-money laundering supervisors are placing greater pressure on business owners to ensure they are operating with adequate policies, procedures and controls for managing compliance obligations. This is why AML evidence based compliance is an essential component to any AML/CFT compliance framework.

Often business owners are placing full responsibility onto their AML compliance officer.  Human resourcing however is only one facet of an AML/CFT compliance framework.  A business also needs systems and controls. 

Systems and controls include undertaking a firm wide risk assessment, customer onboarding procedures, customer risk profiling, monitoring of customer account activity, staff training, tracking and reporting on administrative functions, providing senior managers with quality and succinct reports, filing annual regulatory returns. These are only some of the aspects incorporating a compliance framework.

AML Compliance is heavy in administrative functions.  A business needs to be well organised and diligent in record keeping.  Often record keeping is the nemesis of a regulatory breach.  

Businesses today should be relying on technology to assist manage their obligations.  Technology can achieve what a team of humans cannot.

The brochure below provides some features and benefits of using regulatory technology. You can read on screen or download for your records.

What is AML360?

AML360 is regulatory technology specialised for providing AML evidence based compliance. The software has been developed to meet the regulatory risk based approach of AML/CFT compliance obligations.

AML360’s technology caters for customer onboarding, client risk profiling, transaction monitoring, risk assessments, policy development, case management, geography risks and task assignments.

AML360 is used by lawyers, accountants, real estate agents, lenders, payment services, banks, wealth management services, foreign exchange, trust and corporate service providers.  The software can be used by any industry sector and in any country.

As AML360 is designed as an end-to-end platform, businesses gain greater efficiency – with only one subscription.

When an audit or an AML supervisor visit takes place, your business does not need to search for and collate paper records.  Your digital platform provides filters for easy retrieval, as well as the ability to demonstrate performance.