Navigate Financial Crime Risk with Better AML, KYC and Due Diligence
Here, you will find:
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Articles, e-books and practical insights exploring AML, KYC, due diligence and financial crime prevention.
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Risk assessment tools designed to help you navigate financial crime risks and make better-informed compliance decisions.
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A practical guide to PEPs, source of wealth and funds, and beneficial ownership, for people who prefer understanding risk to professionally ticking boxes.
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Discover practical approaches, tools and real-world examples designed to make due diligence more effective, more efficient and slightly less dependent on “the client said so” as an investigative methodology.
Practical due diligence beyond the checklist
From requirements to practical risk assessment
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Work through grey areas, unusual ownership structures and imperfect information using practical examples, because real clients have an unfortunate habit of not resembling training scenarios.
Compliance that reads differently
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Real cases, travel stories, films and dry humour turn PEPs, SoW/SoF and beneficial ownership into something closer to a good story than a traditional compliance manual.
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Plot twists, practical scenarios and uncomfortable questions keep things moving, because financial crime is serious enough without the book becoming an unusually effective sleeping aid.
Mandatory risk assessment available on demand
Professional approach
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40 active fields determining an accurate self-risk assessment.
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Product created by an AML practitioner with over 15 years of experience.
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Significantly lower risk of a financial penalty compared to situations where the document is created using a free but limited template from the internet, such as an “AML risk assessment sample.”
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Transparent and user-friendly tool, compliant with EU AML regulations and FATF recommendations.
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The tool can be configured to meet individual needs.
AML Expertise for Everyone
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Numerous explanations and comments, written in very simple language, clarify complex concepts from AML regulations.
Self-risk assessment is a formal document that each obligated institution must prepare. It is defined, inter alia, by 4th EU AML Directive (EU) 2015/849 or EU AML Regulation: (EU) 2024/1624.
Latest publications
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Guidance for obligated entities self-risk assessments
Every institution subject to the AML regulations is required to create a self -risk assessment document. Check out this article to learn how to step by step prepare a complete risk assessment for an obligated institution and which mistakes to avoid.
See the 4th EU AML Directive: (EU) 2015/849, Chapter 1, Section 2, Article 8 for details.
Typically, a self-risk assessment must be updated at least once every two years and whenever a significant change occurs (e.g., the introduction of a new product).
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Quick explanation
Customer due diligence requirements, as outlined in the 4th EU AML Directive:
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Identification and verification of the customer's identity
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Identification of the ultimate beneficial owner (UBO)
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Assessment of business relationships.
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Ongoing monitoring of business relationships.
The text clearly explains each of these measures in a simple and understandable way.
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Quick Guidance
How to Verify the Source of Funds for Cryptocurrencies?
In this article, you’ll learn what an effective process for verifying the source of funds should look like for the crypto industry and beyond.
Verification of the source of funds, in accordance with the AML regulations, involves verifying the origin of the financial assets at the client’s disposal.
You can find the original article written for ICA (a renowned organization training AML professionals) here.
Contact
Jan Westphal
+48 500412551
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