Anti-Money Laundering (AML)

How well protected is your business from the threat of anti-money laundering?

Money laundering continues to present a major global challenge, as criminals seek to exploit weaknesses in the financial system every day. With the anti-money laundering landscape in Ireland radically overhauled in the last number of months, there is an increased focus on enforcement actions by the Central Bank and investigations and prosecutions.

If your organisation is considered to be a ‘designated person’ under the provisions of the Act the importance of meeting your legal and regulatory obligations in this area cannot be underestimated. ReganStein can help you with your anti-money laundering training and consulting requirements. 

Our services include: 

  • Bespoke training to all layers of organisational structure 
  • Tailored policies and procedures 
  • Independent risk assessment/ review 
  • Review of CDD measures and implementation 
  • Ongoing updates in respect of legal landscape 
  • Crisis management 
  • AML workshops relevant to your business
  • Review of beneficial ownership compliance 
  • Understanding Irish AML requirements for your organisation/business.

AML Audit

The AML gap analysis is a diagnostic tool that allows for an independent expert in AML to review the company’s policies and procedures. It provides the company with a “health check” against the latest AML legislation, reviewing policies and procedures as well as staff training to provide the company with a list of possible areas of exposure or risk. A comprehensive report is provided to the company detailing areas for attention and recommendations to close the identified risk.

Approach:

  • Carry out a substantive review of all existing policies
  • An analysis of the client company’s compliance with the latest regulations.
  • Assess policies in relation to business risk assessment, customer risk assessment, customer due diligence, and beneficial ownership.
  • Meeting with the MLRO (Money Laundering Reporting Officer) and key AML personnel.
Anti Money Laundering

What will you learn?

Training is designed to give you a comprehensive breakdown of the Anti-Money Laundering (AML) regime and legislation in Ireland enabling you to understand the relevant concepts, put in place a complete AML framework, and highlight the consequences of non-compliance.

What is money laundering? AML documentation
AML reports AML compliance
AML CFT (Countering the Financing of Terrorism)
5th EU AML Directive
Legal & regulatory framework Money laundering and terrorist financing
Emerging trends Risk management and assessment
Operational requirements as they relate to customer due diligence Ongoing monitoring
Sanctions screening Training requirements
Record keeping Suspicious activity/transaction reporting
Enforcement Future developments

Who should be interested

These modules are suitable for all staff and management with AML responsibilities in obliged entities/designated persons.

Find out more about us here, view our consultants here, or to learn more about Anti-Money Laundering get in touch with us, just click here or you can email us at: [email protected]