AML/CFT Reviews

AML/CFT Reviews

The AML environment is constantly evolving, and much can happen over three years. Strategi Compliance provides AML/CFT reviews that provide a quick and cost-effective way of obtaining a health check on whether your business is meeting its AML/CFT obligations.  Regular reviews help reduce your overall cost of remediation that may occur if you leave your AML/CFT audit to once every three years. The AML/CFT review will check your documents, training records and processes to ensure you are still on track – enabling you to make changes to meet regulatory amendments or new guidance from AML supervisors. 

To enquire about an AML/CFT review, click here.

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GETTING STARTED

Risk assessment and programme

We’ve developed a comprehensive manual for each sector explaining how to create and document a robust AML/CFT programme. This manual, developed by our sister company Strategi Institute, includes guidance notes, checklists templates and example solutions, along with appendices explaining what is and is not considered risky practice.

This manual will not just help with your programme – it will provide you with the total solution you need to meet all your AML/CFT obligations.

This AML/CFT manual is provided by Strategi Institute in either hard copy or electronic format and includes:

  • A very detailed guidance note explaining what your obligations are and providing you with tips and instructions on what you are required to do and how to do it.
  • A checklist for completing and assessing your risk assessment.
  • A checklist for completing your AML / CFT programme.
  • A sample template of a risk assessment for a simple reporting entity that is deemed to be ‘low risk’.
  • A sample template of an AML / CFT programme for a simple reporting entity that is deemed to be ‘low risk’.
  • A worksheet to use when completing your risk assessment.
  • Appendices that provide the detailed background information that you need to help you understand what risks your business might face and the implications of those.
  • Information on how to undertake customer due diligence (CDD) and identity verification.
  • What is involved in the compulsory AML / CFT audit (every three years, or at any other time your AML / CFT supervisor requires), things you need to consider before you appoint an auditor to undertake your risk assessment and programme audit, and suggestions on who to appoint.


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AUTOMATION

Software partners

Many of our clients have large numbers of clients onboarded each year. For those clients, customer due diligence (CDD) can be costly and time-consuming.

To help ease the burden, Strategi has partnered with some of the best specialist AML software providers to provide clients options for a fast, efficient software solution.

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BUILDING KNOWLEDGE

Training

Strategi has a range of AML/CFT training options available to ensure employees are aware of the risks of money laundering and terrorism financing and know how to respond. This includes:

  • online learning for staff and AML/CFT compliance officers;
  • generic or bespoke Zoom and classroom-based courses for staff and AML/CFT compliance officers;
  • annual refresher training; and
  • ongoing training throughout the year.


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Audits

Audits

All reporting entities (RE's) under the AML/CFT Act must undergo an independent audit of their risk assessment and programme every three years for DIA, FMA and Reserve Bank RE's, or at any other time requested by their supervisor.

We can provide audits for any entity that requires it under this Act. This includes financial advisers, lawyers, accountants and real estate agents - in other words, all Phase 1 and Phase 2 entities.

On completion of the audit, a written audit report is provided outlining whether the minimum requirements of the AML/CFT Act are met, the effectiveness of your AML/CFT programme, and any changes that may be required.

Why choose Strategi?

  • AML/CFT specialists since 2013;
  • Over 1,000 AML/CFT audits completed across Phase 1 and 2 entities;
  • National audit coverage;
  • Professional standards;  
  • Flexibility: onsite or remote audits;
  • Practical solutions;
  • Ongoing support;
  • Cost-effective.

To get an quote for your business today. 

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Advisory

Advisory

Had a letter from your supervisor asking lots of questions that you don’t know how to answer? Or been issued a warning that if you don’t remedy a breach, there will be worse to come? Or are you setting up new and don’t know where to start?

From the serious to the everyday - we can help. Strategi’s AML/CFT experts are available to assist with any issue, through our full range of AML/CFT advisory services. If we don’t have the expertise in-house, we’ll refer to you to one of our specialist partners who does.

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