AML firm-wide policy
Your AML firm-wide policy is a legal requirement. According to The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, every firm must have a tailored written policy, controls and procedures. These cannot be a carbon copy of another firm’s or a generic set of documents.
The AMLCC online platform enables you to meet all these legal requirements, while bringing the time and research that goes into creating and updating your anti-money laundering firm-wide policy down significantly. The policy covers every area of anti-money laundering compliance your firm might need to consider and explains in detail the risk you might face, to further educate your employees.
An AML firm-wide policy tailored to your firm
The AMLCC online platform provides you with a comprehensive policy document that’s been created in partnership with Supervisors, and is kept up-to-date with the latest anti-money laundering rules and regulations. So you’ll always have the right information, with no legwork required.
Of course, our template document is just that: a template. It’s 100% editable so that you can make the necessary changes to create a bespoke policy for your firm. Your firm’s name and services are automatically pulled through to the document. So all you have to do to create a bespoke AML firm-wide policy is alter it to reflect how your firm operates.
Your policy will be automatically saved on AMLCC, with a time and date stamp. Every user in your firm will be asked to acknowledge they have read and understood the policy and that acknowledgement is recorded. You can also download the AML firm-wide policy as a PDF to send to your Supervisor.
Track every update in your AML firm-wide policy for your Supervisor
Once you’ve created your firm’s AML firm-wide policy, keeping it updated is simple. You just make the edits to the online document and save a new version. Earlier versions of the policy are saved too, so that you have a full audit trail.
Every time you make an update, the AMLCC system notifies your employees and asks them to acknowledge that they’ve read the new version and understood it. This activity is also saved in your AMLCC audit trail.
Rules and regulations applied
Keeping your anti-money laundering firm-wide policy up-to-date with the latest anti-money laundering rules and regulations is an essential but time-consuming task. AMLCC takes care of this responsibility for you.
Every time there’s a revised or new piece of legislation, we update our template policy document. These changes are instantly reflected on your AMLCC platform. The only action for you to take is to make sure the wording reflects your firm’s operations before saving a new version of your bespoke AML firm-wide policy.
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