With the removal of the FSA’s money laundering sourcebook on 31 March 2006, organisations are now not only required to have arrangements in place to identify, assess, monitor and manage money laundering risk; they must also carry out regular assessments of their systems and controls to ensure their adequacy and compliance.
So how can organisations be certain that their money laundering arrangements are comprehensive enough? How can organisations be sure that their controls are proportionate to the nature, scale and complexity of their activities?
At Momenta, not only do we have a good relationship with the FSA, but we also have a wealth of experience of designing and implementing anti-money laundering controls, and of assessing and advising clients of the sufficiency/ adequacy of their systems. One of our principal consultants is a recognised authority in this field, and is the co-author of two books on the subjects of anti-money laundering, and the prevention of financial crime.
How we can help
- Provide induction, ongoing or remedial training and coaching to your staff on the latest anti-money laundering rules and how they impact on doing business,
- Review your current anti-money laundering systems and controls and advise on how they might be strengthened,
- Review your current arrangements for money laundering surveillance and monitoring and suspicious transaction reporting
Supply you with interim/seconded compliance resource to support your anti-money laundering department to assist you in meeting your regulatory obligations.
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