The Department of Internal Affairs (DIA) reviewed 60 reporting entities’ compliance with independent audit requirements and concluded that there is room for improvement for everyone.
Reporting entity weaknesses exposed by DIA audit review
Posts about AML Compliance:
5 things to cover for suspicious activity reports
Every business prides itself on knowing its customers. Understanding their needs, wants, and behaviours is the foundation on which a business grows.
Typically, customers who use the same products and services tend to behave in the same way, with similar patterns of transactions and activities. And when a customer is acting unusually, i.e. outside the expected pattern of behaviour, it’s easy for businesses to spot this.
How can you best prepare for your AML Audit?
Finding your AML auditor is one of the first steps to take when it comes to preparing for your three-yearly AML audit. But to make sure you're as ready as you can be, there are a couple of key areas you have to look at beforehand. In this blog you'll find my quick run-down of the important things you need to do before you have your AML audit, and an opportunity to download our free guide to AML Audits.
How to choose the best AML Auditor
If the time for your AML audit is rapidly approaching, the most important question at the forefront of your mind should be: who will be my AML auditor?