Knowledge in AML Compliance Program

The anti-money laundering "compliance program" is built upon systematized knowledge.  More knowledge means, more control of the money laundering activities and hence less money laundering abuses.


AML/CFT Principles Based On Knowledge; Principles of Knowledge based on Information or the flow of information. Nothing further than that !
Interaction and Signalling Process- Main Factors

• Information on Human Factors
• Information on Non-Human Factors

1. Know Your Laws and Regulations on ML and TF
2. Know Your Economic and Social Consequences of ML and TF
3. Know Your Predicate Offences
4. Know Your Liabilities on ML and TF
5. Know Your Compliance Standards on AML and CFT
6. Know Your Corporate Governance on AML Program
7. Know Your Compliance Culture and Senior Management’s Role
8. Know Your Customer
9. Know Your Customer Customer(s)
10. Know Your Employee Program
11. Know Your Beneficiary
12. Know Your Country
13. Know Your Product and Services
14. Know Your AML Program Elements
15. Know Your Policy, Procedures, Processes
16. Know Your Reviewing and Updating- Policy, Procedures, Processes
17. Know Your Customer Identification/Verification Program
18. Know Your Compliance Officer-Compliance Department
19. Know Your Global Risk Management Program for CDD
20. Know Your Unusual Transaction Monitoring and Reporting System
21. Know Your Risk Profiles
22. Know Your Data and Scoring Model
23. Know Your Computer Systems and Automated Compliance Solution
24. Know Your Risk-Based Assessment 
25. Know Your Preventive Measures 
26. Know Your Entity-Wide Risks and Controls
27. Know Your Examination and Investigation
28. Know Your Training Program
29. Know Your Documentation
30. Know Your Responsibility
31. Know Your Record Keeping
32. Know Your Internal Reporting
33. Know Your External Reporting (SAR/STR and Cash Transaction Reporting)
34. Know Your Suspicious/Unusual Transactions and Activities
35. Know Your Red Flags (Indicators) of ML
36. Know Your Auditing Program- Independent Testing
37. Know Your Risks and Materiality
38. Know Your Sanction Lists-Black Lists (National/International Black List)
39. Know Your Role, Rights and Responsibilities on Sanctioning Program
40. Know Your ML/TF Risks and Vulnerabilities 
41. Know Your Confidentiality Policy 
42. Know Your Financial Intelligence Unit
43. Know Your Internal/External Communication and Cooperation
44. Know Your Internal and External Investigations

Our task is to use knowledge and discover the truth....Hakan Ürem, CAMS


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