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SERVICES OFFERED
Preparation of AML/CFT Policies and Procedures
At the cornerstone of every AML/CFT Framework lies the policies and procedures which lay out the company’s obligations, rules and procedures in combatting the risks born from money laundering and terrorism finance.
This service involves the review of existing documents or the creation of fresh and tailored AML policies and procedures for organizations to ensure they comply with legal and regulatory requirements. It includes the development of internal controls and practices designed to prevent, detect, and report potentially suspicious activities that might indicate money laundering or terrorist financing.
Pulse Checks of Company’s Existing AML/CFT Framework
Pulse checks are designed to be a relatively quick and cost-effective way in identifying gaps in an AML/CFT Framework through the assessment of existing policies, procedures, record keeping as well as a limited sample of customer files to ensure that regulatory obligations are being met. A report with all assessed areas is provided which includes any strengths, weaknesses and recommendations for remedial action where necessary.
Maintenance of Risk Registers
Maintaining risk registers involves keeping a detailed log of all identified risks related to money laundering and financing of terrorism that a company might face. This service helps in the continuous assessment and management of risks, updating new risks, and monitoring mitigation efforts to ensure they are effective.
ADD+ Can guide you in creating or organising your existing registers to ensure they are relevant, up-to-date and meeting the minimum standards and expectations as set out by the regulations. ADD+ can offer:
– Customer Risk Classification methodologies
– Geographical Risk Classifications;
– Non-reputable Jurisdictions Classifications (Updated on a bi-annual basis).
Training
Ensuring all relevant staff are kept up to date with AML/CFT Training is an obligation as per the PMLFTRs. ADD+ offers a range of related training, covering a comprehensive list of AML/CFT topics. The training takes an interactive approach to ensure that all attendees are well positioned to identify threats or suspicious circumstances and to understand their own roles and responsibilities.
Training can be customised for a company’s staff at various levels on AML compliance, including recognizing signs of money laundering, understanding legal obligations, and learning how to act on suspicions. Training is followed up with an assessment for which a report is provided for record keeping purposes.
Business Risk Assessment Preparation
This service handles the analysis and preparation of your required annual Business Risk Assessment (BRA) report. Using a tried and tested methodology, ADD+ can prepare an extensive BRA on your behalf, outlining the inherent risks, controls and mitigants, and residual risks in a professional report, tailored to your company and practice, freeing up your time and offering you the peace of mind that this crucial exercise is completed in a comprehensive and professional manner.
Sanctions, Watchlist and Adverse Media Screening
ADD+ offers fully fledged Sanctions, watchlist and adverse media screening through tried and tested platforms. Just send us your customer’s details and a copy of their identification and we will provide fully fledged reports to ensure you are dealing with the right people and are protected from international sanctions, freezing orders and reputational damage.
General AML/CFT Consultancy
Email us your questions and queries and we will respond quickly and thoroughly, ensuring that you are confident in your processes and decisions.
