Performing An AML Audit For Your Organisation

Anti-Money Laundering (AML) audits are different from financial audits. As such, AML auditors require specialised skills, knowledge, and experience. An AML audit is a test to determine the adequacy of an organisation's financial crime compliance programme or a specific aspect of the programme, and whether the programme is being followed as intended.

A full-scope audit involves evaluating all aspects of the compliance regime, including:

• Governance, oversight, and structure;
• Risk assessment;
• Policies and procedures;
• Customer due diligence and enhanced due diligence;
• Transaction monitoring and list screening;
• Suspicious activity reports and currency transaction reports;