An AML risk based, approach, guided by international best practice, has been incorporated to the AML360 money laundering assessment. This is a quality and efficient method to identify AML risks.
The AML360 business risk solution has been developed by leading AML professionals including academics and former advisers to government. Expertise is embedded into the product, saving your business AML advisory fees.
Whether you have omitted pertinent information and wish to re-run the assessment or an update is due - our systems ensure these administrative tasks are quickly and easily applied, saving time and costs.
AML360 was a pioneer of the online money laundering risk assessment, completing its first version in 2014. Since that time we have continued to enhance products outcomes and are now recognised as leading software vendor for the global business community.
Algorithms work in the engine of the software so that users can simply log in to their account, activate the assessment and enter relevant data from selections on screen. Once done, click 'calculate'. The results are immediately displayed and sent to your AML risk register.
Whether your business is small or large, the AML360 risk based approach to AML compliance is catered to all business types, across all jurisdictions. For corporate groups, the assessment can be executed at business division level, branch or head office. Risk status can be viewed at group level or drilled down to single business entity.
Recent studies have highlighted most businesses, including banks, are still using manual processes for carrying out a money laundering risk assessment. In today's technological landscape these methods are archaic, are prone to error and absorb a significant amount of human resourcing commitment.
The risk report will guide your business on the types of policy, procedures and controls that should be considered in order to meet regulatory expectation of the risk based approach. You can align your AML/CDT policy back to the risk report to qualify compliance.
For the past 3-4 years, AML360 has been recognised as a leading software vendor for anti-money laundering compliance. Our target market is small and mid-sized businesses who often struggle to meet AML compliance due to lack of in-house expertise and soaring costs for AML technology. AML360 is changing the regulatory landscape.