Maestro-Solutions for

AML Governance

Pretty much every AML failure is down to poor governance!

The prevention of money laundering and terrorist financing has united the financial regulators in taking firm and resolute action.

Firms have been shut down because of poor Anti-Money Laundering (AML) management while the fines have escalated to a level where they can exceed profits.

Our AML Governance solution enables clients to protect their business by evidencing compliance with the regulatory requirements:

  1. Management Body Oversight: Ensure that Senior Management have thorough control over AML.
  2. Resources/Expertise: Show regulators that the firm has dedicated sufficient resources to AML (personnel, systems, data, etc.).
  3. Size/Complexity: Assess the AML framework (policies/procedures/controls) based on the size and complexity of the firm.
  4. Monitoring/Reporting: Show that the firm’s AML policies, procedures and controls are monitored, results are reported and actions taken.

GRC-Maestro keeps the records you need to show: the who, what, when and why regarding AML Governance.

References

AML Governance

Regulators require firms to draft and implement detailed policies, procedures…

AML Risk Evaluation

Regulators require firms to undertake a periodic AML Risk Evaluation to…

AML Monitoring

Regulators expect firm to ensure their procedures and controls to…

AML/Sanctions: Correspondent Banks

The FATF/Wolfsberg have detailed checks on Correspondents…