Anti-Money Laundering Compliance obligations are significantly less burdensome with a Law Firm AML/CFT Compliance Software. AML360 provides an AML/CFT tool kit designed specifically for law firms and legal practitioners.
AML360 provides software for legal practitioners that allows AML/CFT compliance to be quick, efficient and low cost. Known as a Law Firm AML/CFT Compliance Solution, AML360 completes business risk assessments, internal reviews of the AML/CFT compliance status, customer risk assessments, monitoring client activity, online training and case management.
Legal professionals can subscribe to a single module or use as a building block to develop a complete digital AML/CFT compliance framework. Utilise a legal practitioner’s software for managing compliance of laws known as Anti-Money Laundering and Countering Financing of Terrorism.
A Law Firm AML/CFT Compliance Solution with AML360 will simplify every aspect of anti-money laundering compliance duties.
Lawyers and law firms can operate like a professional Anti-Money Laundering Compliance Officer.
The laws of anti-money laundering are heavy in administrative duties. This includes keeping a business risk assessment up-to-date, undertaking customer profiling, maturing strengths and weaknesses of a compliance framework, record-keeping, training and ongoing monitoring.
Each of these elements need to meet regulatory expectation of being “effective”.
As the majority of law firms operate without a full-time AML/CFT compliance professional, this often leads to core governance and compliance duties for anti-money laundering compliance fall behind industry standards.
AML/CFT compliance software known as AML360 enables a legal practitioner or a Law Firm to operate with policies, systems and controls all in one platform. As AML360 automates risk profiling and data reporting, the legal practitioner is guided on action that should be taken.
Inadequate policies, procedures and controls can result in significant regulatory penalty. AML/CFT Supervisors are are quick to take enforcement action when inadequacy is detected. AML360 software protects against such risks by providing a level of regulatory certainty.
The software incorporates legal requirements across all jurisdictions. There is also an information resource library to assist with compliance queries.
By using AML360’s regulatory technology, legal practices can finally get peace of mind that they are on top of AML/CFT compliance.
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