Anti Money Laundering Compliance Checklist
Aug
How do you know if you are complying with your Money Laundering Regulations (MLR) obligations?
Why Use an AML Compliance Checklist?
The rules in the MLR are extensive and when added to those of AML Supervisory Authorities, such as the HMRC and FCA, the scope is even broader. You want to be sure you are meeting all the requirements and can effectively evidence your AML policies and controls. The use of an AML audit checklist, whether it’s your own or a purchased one, will save you time and money in the long run.
Having the rules, legislation, standards and expectations set out in writing means you can assess your AML compliance program. The correct checklist format can also reveal non-compliance patterns and provide valuable management information.
Anti Money Laundering templates you may be interested in…
AML Checklist Questions
There is no standard format for the assessment criteria that should appear on a anti money laundering compliance checklist. However, by reviewing the MLR and additional guidance published by the HMRC, FCA, JMLSG and FATF, you can define questions in a structured manner. You can also read our article on which AML documents you might need to satisfy your Supervisory Authority.
The aim of the questions defined in your checklist are to identify areas of non-compliance with regards to your anti money laundering obligations. These also extend to supporting areas such as due diligence, risk assessments and client onboarding.
AML Audit Checklist Download
The Know Your Compliance Limited AML Compliance Checklist comes with over 100 assessment questions. Covering a vast array of anti money laundering audit criteria, including nominated officers, MLROs, training, transaction monitoring, reporting, sanctions, screening, due diligence and AML risk assessments.
Why start from scratch and write your own Anti Money Laundering Compliance Checklist when we have one fully prepared? Customise the content, prepare a targeted action place for non-compliance and supply management information to your senior managers or board.
With over 8500 organisations already using our policies, controls and checklists, we are the UK’s leading regulatory compliance template provider. Get instant access to our AML checklist today and start assessing and evidencing your AML compliance with ease.
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