In the confusing Anti-Money Laundering landscape firms struggle to maintain an appropriate defence against the many faces of financial crime. Fortunately, larger corporations all have well developed Compliance functions to understand and advise which regulations are relevant and develop corporate policy to cope with them.
But why then have so many well run and respected companies nevertheless been subjected to significant penalties and criminal proceedings due to regulatory transgressions?
The answer to this question lies in the organisation's ability to translate corporate Compliance policies into practical operational controls and procedures that go beyond merely ticking the boxes, yet do not create an expensive and bureaucratic overhead that stifles commercial agility.
international KYC is a leading Anti-Money Laundering advisory and training firm with experienced business people who know that your company needs to fully adhere to the anti-money laundering rules and make money.
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7 AML Tips For Business Leaders
Decide your corporate AML risk appetite
Develop a corporate AML policy
Communicate a consistent message to all parties
Invest in an ethical corporate culture
Know your stakeholders
Understand the AML dynamics of your markets
Document evidence and keep it up to date