Why would you need an Anti-Money Laundering Policy Toolkit?
For many UK organisations, registering with an anti-money laundering scheme is mandatory. Those with oversight for money laundering prevention are referred to as a Supervisory Authority. Examples of such authorities include the FCA, HMRC and the Gambling Commission. It is mandatory for those with AML obligations to follow both the Supervisory Authority rules and the requirements set out under the regulations.
The Money Laundering Regulations (MLR17), including any subsequent amendments, provide businesses with the rules and requirements for identifying, assessing and managing sources and threats of financial crime.
The regulations and associated Supervisory Authority requirements provide a risk-based approach aimed at preventing money laundering and terrorist financing within businesses where money laundering risk is present. By conducting a written risk assessment, businesses are able to effectively identify and assess the risk of money laundering and terrorist financing, as well as areas of vulnerability.
The aim of assessing and identifying the risks is to enable businesses to develop and implement adequate controls, measures and policies in areas such as due diligence, outsourcing, anti-bribery & corruption, business relationships, transaction monitoring and general anti-money laundering measures.
AML Policy & Toolkit
At Know Your Compliance Limited, we understand that reinventing the wheel is a costly and timely process, so why develop your own policies and templates from scratch when you can utilise our extensive range of Anti-Money Laundering Policy and Toolkit options.
Hundreds of businesses from a vast array of sectors already utilise our AML Toolkit documents, accessing ready to use, fully customisable templates in anti-money laundering, risk assessment, due diligence, whistleblowing, outsourcing, audits & monitoring and much more.Compare our AML Products!