The Ultimate AML Compliance Checklist for FIs

A key mistake that many banks and financial institutions (FIs) make is to think of anti-money laundering (AML) compliance as a one and done activity. In reality, an effective AML compliance program takes planning and continuous attention to detail.

Our AML compliance checklist outlines the key components that go into building an effective AML compliance program. Review the checklist to make sure your FI checks all the boxes, including:

  • Your FI’s Risk Appetite: Be sure to set your FI’s “risk appetite/tolerance” from the top;
  • Appoint a Chief Compliance Officer: Name a CCO to take ownership of your AML compliance program;
  • Train Your Staff: Ensure your staff is trained and will be re-trained in the latest AML policies.

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