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The program is a legislative requirement and represents the policies, procedures and controls to demonstrate the actions and resourcing that your business has committed to mitigating and managing anti-money laundering compliance. It can only be properly developed after consideration of the AML/CFT risk assessment.

The program is the cogs and chain of your overall AML/CFT framework. When your program is operating adequately to manage your risks, your business is meeting regulatory expectation.

Meeting Regulatory Expectation

Your program represents the policies, procedures and controls that your business is committing to managing, mitigating and monitoring ML/FT risks.

Your program has the expectation that your business will meet minimum requirements, from both a subjective legislative perspective and also from an objective, risk based approach.

Why is the program important?

Your program is the first line of defence when it comes to defending a regulatory action. Should an action of regulatory penalty occur, your program will represent the commitment of your business to AML/CFT compliance. This means what is written in the program and what happens in practice, on a day-to-day basis, will be the centre of any litigation.

What are common oversights of programs?

Many businesses make the mistake of considering their program as the policy only - omitting to include adequate procedures and controls.

How does AML360 assist with the development of a program?

When you subscribe to the program, you receive an extensive guidance manual, as well as a proforma online AML/CFT program. The online program, as well as the guidance manual, include prompts and tips on how you can tailor to your specific requirements.

Is a proforma program on its own adequate?

No. Every business is unique in not only the ML/FT risks they face but also the actions and resourcing commitment they will dedicate to meeting AML/CFT compliance. Other than with one-on-one consulting/advisory services, it is not possible to provide a program that is 'ready-to-go' without input from the business itself. Therefore AML360 provides the option of an advisory service, at an additional cost, or the proforma program, accompanied with tips and prompts.

With the premium package you business receives an AML/CFT risk assessment, customer profiling and transaction monitoring platform.

It is important to note for this subscription your business must pay the minimum monthly fee at six-monthly increments.

What if I want to cancel my Premium subscription?

If you cancel your subscription within the first six-month period, there is no refund. However, you can cancel at anytime leading up to the six month period and you will not be charged any further fees.

Can AML360 assist me beyond the proforma program?

Yes. AML360 is one of the few software vendors that has the capacity to provide your business an end-to-end compliance solution. This means we can provide you the services of 'procedures and controls'. More importantly, our software engineers and AML experts have ensured our systems are easy to use and are specialised in meeting AML/CFT legislative requirements.

After I subscribe, what if I need further assistance?

Our primary focus is to meet the needs and demands of our clients. We strive to be competitive in market pricing - this includes our advisory services.

AML360's philosophy is to provide a solution to small and medium sized enterprises that is adequate and cost effective. Therefore, if your requirements are minor, our AML experts will provide advice on a complimentary basis. If however your requirements are moderate to extensive, we will need to provide a consulting proposal.

We are positioned as a specialist AML compliance advisory firm with the additional benefits of low cost.

We give you peace of mind so you can concentrate on your core business objectives.

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