AML compliance
Businesses in regulated sectors must run an anti-money-laundering programme proportionate to their risks.
What a programme includes
- Business-wide risk assessment
- Written AML and sanctions policies and procedures
- Customer due diligence and enhanced due diligence
- Sanctions screening
- A designated compliance officer registered on goAML
- Staff training and record keeping
- Independent review of the programme
Who needs it
Real estate brokers, dealers in precious metals and stones, corporate service providers, auditors, accountants and others within the designated sectors.
Common questions
Can the compliance officer be outsourced?
Supervisors expect a named compliance officer. Some support functions can be outsourced; responsibility stays with the business.
Official sources
We check our guidance against these official sources. Always confirm current fees and rules before acting.