Good morning. Welcome to this update on AML compliance. I’m David Jacobson and I started Jacobson Consulting to help businesses with the stress and frustration of regulation and risk management
Jacobson Aml Slideshare 071029 - Presentation Transcript
Anti-money laundering: legislative update David Jacobson October 2007 Disclaimer: this is general information only and not specific legal advice for your particular circumstances. If you need advice for your AML compliance please get professional advice.
WHAT YOU NEED TO DO AND WHEN
Plan
Find technology solutions
Implement control solutions
Compliance report due by 31 March 2008?
Find technology solutions
Understand the new rules
Sources
Risk assessment
Know your customers
Sources of regulation
Customer Due Diligence (CDD)
Customer identification
Training
Ongoing employee training
Suspicious matters
Tipping off
Transaction monitoring
monitor the transactions of each customer on a risk basis
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