A REGULATOR CALLS – HOW SHOULD AML/CFT OBLIGED ENTITIES PREPARE?
January 22nd, 2023
How should anti-money laundering (AML) officers prepare for a visit by a regulator, be it a scheduled inspection, or the worst-case scenario - an unexpected dawn raid? Experts say institutions need to always be prepared for checks by regulators.
However, this is not simple given a visit to assess an obliged entity’s internal controls’ ability to effectively monitor and manage compliance with national and regional AML policies and procedures can be rare. In certain jurisdictions, such as the UK, noted Dr Mario Menz, head of compliance and money laundering at ...
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