The AML Laws require the appointment of an appropriate MLRO and that such person is adequately supported in the context of the Client’s business.
Corinth reviews with the Client the appointment qualifications for an MLRO, as well as the need for the Client to adequately support the MLRO.
To facilitate the fulfilment of the MLRO’s and the Client’s AML responsibilities, Corinth has designed forms and checklists that may be tailored to respond to the unique nature of each Client’s business.
Corinth also provides in depth training specifically designed for MLROs, addressing how the MLRO:
- develops and manages an effective AML Program, including policies, controls & procedures
- acts as the liaison for third-party enquiries
- receives and assesses staff reports regarding potentially suspicious activity
- prepares and files Suspicious Activity Reports with the National Crime Agency
- fulfils the client identification and verification responsibilities
- explores Red Flags
- accesses relevant Know Your Client and other financial information
- may enable staff awareness
- enables staff awareness and training
- may report AML information to Senior Management
The purpose of a Risk Assessment is to identify, measure, monitor and control risks. Risk Assessments seek to uncover risks to our Client’s in light of the UK laws relating to: Anti-Money Laundering, Terrorist Financing, Anti Bribery & the Proceeds of Crime Act 2002.…
AML Policies, Controls & Procedures Considering the results of the Risk Assessment, Corinth creates for our Clients bespoke AML Policies, Controls & Procedures consistent with the UK laws relating to: Anti-Money Laundering, Terrorist Financing, Anti Bribery & the Proceeds of Crime Act 2002 (the…