AML/CTF Review

Few regulatory regimes can damage your brand more than AML/CTF.  How you prevent and respond to money laundering or terrorism financing activity facilitated by your organisation impacts brand trust and integrity. Board and executive level understanding, direction and oversight is a precondition for effective management of this dynamic risk area.

How we can help

Our team has had direct accountability for managing AML/CTF both at the enterprise and business unit level, worked directly with AUSTRAC and industry working groups, and built and led AML/CTF transformation programs across multiple businesses within financial services. With direct AMLCO (AML Compliance Officer) experience we understand what it takes to meet both the letter of the law, expectations of regulators, customers, and shareholders.

We can help organisations at any stage of their AML/CTF journey, including regulatory engagement. With an effective set of methodologies and tools we are well placed to lead, support, oversee or assure your important AML/CTF investments and ensure your brand and reputation is not unnecessarily exposed.


Key areas of focus

Our team of experienced practitioners can help in all AML/CTF areas, including:

  • Stress-testing the appropriateness of your own AML/CTF Program and operations capability (such as before or after an AUSTRAC review)
  • Ensuring that the AML/CTF Risk Model is both appropriate and current
  • Reviewing the efficacy and market performance of your AML/CTF software systems, whether hosted, cloud based or managed service
  • Assessing the appropriateness of your Customer Due Diligence, Transaction Monitoring and Regulatory Reporting processes
  • Ensuring your AML/CTF system parameters and rulesets are delivering optimal and cost-effective staff workflows
  • Reviewing the broader operational risk framework within which AML/CTF risks are managed to ensure project management and business change methodologies are giving proper regard to AML/CTF risks when making seemingly unrelated changes
  • Reviewing third party due diligence and contract formation to ensure AML/CTF protections and expectations are properly captured throughout your supply chain
  • Ensure relevant staff and third parties are appropriately trained and aware of their accountabilities across all your products and services

Report

Whichever service or support we deliver, we will provide you with a report that presents a meaningful view of your organisation's AML/CTF posture and the measures required to safeguard your business. The report includes:

  • Actionable insights based on our engagement and industry expertise
  • Where relevant, benchmarking data to call out leading or lagging behaviours
  • Overall risk rating, based on our self-assessment of your regulatory risk