Why Are Independent Reviews So Important?
Monitoring the conduct of your business by ensuring there are robust systems and controls in place and that you have an independent process to identify and remediate any weaknesses in your policies and procedures is a hallmark of good corporate governance. It also protects your firm and your clients. Specifically, an independent audit should be conducted on a regular basis to monitor and test the implementation, integrity and effectiveness of your AML/ATF policies, procedures and controls. Not only is this a sound practice, it’s required under Regulation 17A of the Proceeds of Crime (Anti- Money Laundering and Anti-Terrorist Financing) and the 2016 Guidance Notes for AML/ATF Regulated Financial Institutions on Anti-Money Laundering and Anti- Terrorist Financing.
Schedule your Independent AML audit today. Oyster Consulting’s professional support can help you assess and improve your firm’s AML programme. Oyster has a highly experienced team. Our consultants have conducted AML audits across all industries, so we know what it takes to get the best end result.