An AML HealthCheck is a self-evaluation of the status of your anti-money laundering compliance program. Accordingly, it evaluates all essential aspects that AML auditors and AML supervisors examine.
Also known as an AML compliance review, the AML360 Health Check provides your business with an opportunity to remedy weaknesses before a material breach occurs.
The AML360 Health Check provides a report setting out the risk status of 70+ areas that typically cause concerns during AML/CFT audits.
Used to support controls and to evidence good governance practice, the AML Health Check acts as an internal compliance review. An AML/CFT compliance review should undertaken on an annual basis, with an increased frequency depending on the nature, size and complexity of the underlying business.
Without the ability to evaluate an AML/CFT compliance status, business owners, executives, and AML compliance officers will be flying blind and unable to manage regulatory risk.