Designing a successful anti money laundering program

successful anti money laundering program

Designing a successful anti money laundering program

Designing a successful AML Program involves a series of steps. It starts with risk identification, risk assessment and then their review and control. The AML compliance officer needs to define the procedures to counter the AML risks. Further, employees need to be trained on the AML compliance requirements and procedures.

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FAQs About Successful Anti Money Laundering Program

Use a risk-based approach to create an effective AML program. It means that entities will identify the risks they are exposed to, measure the intensity of these risks, and design the corrective measures based on the impact of these risks on the entity.