Outsourced Independent Internal Anti-Money Laundering Audits

Strengthen Your AML Defences: Expert Outsourced Internal AML Audits in London & Harrow

Is your firm compliant with the Money Laundering Regulations 2017?

If your business is in-scope of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on Payer) Regulations 2017, maintaining a robust Anti-Money Laundering (AML) framework is a legal and regulatory obligation A key component of this framework is a thorough and independent internal audit.

Meeting Your Regulatory Requirements: Understanding Regulation 21

Regulation 21(1)(c) of the Money Laundering Regulations mandates that in-scope firms, subject to the firm's size and nature, must establish an independent audit function. This function plays a vital role in evaluating the effectiveness of your AML policies, controls, and procedures. You have the option of managing this function internally or outsourcing it to a AML audit provider.

Why Choose an Outsourced AML Audit?

While managing your AML audit internally might seem appealing, outsourcing offers significant advantages:

• Objectivity and Impartiality: An external auditor provides an unbiased perspective, free from internal pressures or potential conflicts of interest.
• Reduced Burden on Internal Resources: Free up your internal staff to focus on their core responsibilities, saving you valuable time and resources.
• Enhanced Credibility: An independent audit demonstrates your commitment to compliance.
• Proactive Risk Management: We can help identify vulnerabilities and provide actionable recommendations to strengthen your AML framework.

Tailored AML Audit Services for London & Harrow Businesses

We provide bespoke AML audit services to firms in the London and Harrow area. We believe in building strong client relationships and offer a personalised, in-person service to understand your unique needs and challenges.

Our comprehensive suite of services includes:

• Mock Internal AML Audits: Prepare your firm for regulatory scrutiny with a mock audit, identifying potential weaknesses and areas for improvement before an official review.
• Internal AML Audits: A thorough and independent assessment of your AML framework, covering all key areas and providing detailed recommendations.
• AML File Reviews: Targeted reviews of your client files to ensure compliance with CDD/KYC requirements.
• Focused Area AML Audits: In-depth reviews of specific areas of your AML program, such as training or risk assessment, based on your identified needs.
• Post-Audit Implementation Review: We work with you to assess the implementation of our recommendations and ensure they are effectively integrated into your AML program.
• Follow-Up Reporting: Ongoing support and follow-up reporting to help you track your progress.
• Learning Hub (In Development): Access to valuable resources and updates on AML regulations and best practices (coming soon).

Our comprehensive suite of services includes:

Our Commitment to Local Businesses

We are dedicated to supporting local businesses in London and Harrow in meeting their AML compliance obligations.

Ready to Strengthen Your AML Defences?

Contact us today for a confidential consultation. We'll discuss your specific needs and how we can help you demonstrate your commitment to compliance.

Contact us for an informal chat.

Disclaimer: This post is not legal or regulatory advice.

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