AML frameworks
A robust AML framework is an essential element that subject persons must implement to protect their operations from being used by criminals.
Anti-money laundering compliance
Our AML Compliance unit assists organisations by offering tailored support and solutions to meet their regulatory requirements. Our team includes Certified Anti-Money Laundering Specialists (CAMS) with extensive experience in the AML/CFT area.
Organisations need to develop a robust regulatory compliance function in order to achieve their business objectives. This should include strong AML/CFT policies and procedures commensurate with the company’s risk appetite and the level of risks that it is exposed to, whilst meeting the stringent regulatory obligations.
Furthermore, a strong compliance culture will promote the effective implementation of policies and procedures and ensure a tight control framework. This will help protect the organisation from any risks should it be targeted by criminals or terrorists.
With hefty fines being applied by the financial authorities for AML non-compliance, being on top of your game, and having the necessary internal controls to ensure that you are in line with regulatory requirements, will allow your firm to safeguard its reputation and preserve its financial stability.
Our Approach
Over the past years, we have worked closely and cooperated both with the competent authorities, as well as various business entities, to deliver effective solutions in managing risks relating to non-compliance with financial regulations. Our team includes Certified Anti-Money Laundering Specialists (CAMS) with extensive experience in the AML area.
Working within an environment experiencing unprecedented levels of disruption while being subject to a stringent regulatory scenario is challenging for any firm. That is when you realise how important it is to be able to rely on a trusted partner.
Our Services
Our AML compliance service offering includes the following services:
Want to know more? Contact us for more information.
Independent assessment of AML frameworks
Carrying out an independent assessment of your AML framework, other than satisfying legal obligations, will also provide you with peace of mind that it is adequately designed and effectively implemented to sufficiently mitigate risks faced by the entity.
Business risk assessment (BRA)
The Business Risk Assessment (BRA) allows the subject person to ensure that the current business model is in line with its risk appetite. In order to be effective, it must be drawn up using reliable quantitative and qualitative data and be regularly revised.
AML Remediation plans
Regulatory scrutiny is part of the game.
AML Training
Operations are at the forefront in the mitigation of money laundering and financing of terrorism risk.
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Alan Craig Advisory Partner - Birkirkara
Alicia Vella Advisory Director - Birkirkara
Our articles
Indicators of Tax-Related ML
Tax evasion is one of the areas which led to Malta being grey listed in June 2021 by the FATF.
AML risk in the iGaming industry
The 4th AML Directive brought with it a mandatory risk-based approach, whereby subject persons must draw up AML/CFT policies and procedures commensurate to their risk appetite and to the risks that they are exposed to.
Preparing for AML regulatory visits
A company with a robust AML framework should have nothing to fear from an AML regulatory visit
The role of Internal Audit & the AML Framework
In today’s world of tightening regulations and an evolving risk landscape, companies are facing increased pressure to comply with Anti Money Laundering (AML) regulations to avoid hefty fines, reputational risk, and disruptions to their operations.