Here’s a quick checklist to ensure you’re on top of your compliance game:

1. Annual Report – August:

Mark your calendar for the annual report due in August. This document is your chance to showcase your organisation’s commitment to AML/CFT compliance. Prepare in advance to provide a comprehensive overview of your activities and any changes made throughout the year.

2. Annual review of risk assessment and programme:

Take a moment to review your risk assessment and AML/CFT programme. Are they up to date? If there have been changes in your business or the regulatory landscape (such as the change to regulations in 2023 which have some aspects coming into force in 2024 and 2025), updates may be necessary. Ensure these important documents accurately reflect your current risk landscape so you don’t get caught out at audit time.

3. 3rd-year Audit (if applicable):

If your organisation needs to undergo a 3rd-year audit in 2024, ensure it’s on your radar. Give our team a call to book in and be proactive in gathering the required documentation and addressing any potential issues that may arise during the audit process.

4. Annual review:

If your business is new to AML/CFT obligations or has undergone significant change or it has a low risk appetite, then take advantage of our annual review facility. This is a quick low cost external check of your documents and sampling of client files to ensure you are on track. Contact us to organise a review.

5. Diarise internal control checks:

Don’t overlook the internal control checks outlined in your programme. Whether it’s reviewing current Customer Due Diligence (CDD) processes, ensuring they are being followed correctly, or verifying vetting documents for new staff, create a simple annual plan. A basic spreadsheet can be a powerful tool to outline tasks, making it easy to stay organised and accountable.

6. Annual refresher training:

Refresh your team’s AML/CFT knowledge with an annual training session. Keep abreast of regulatory updates and the risk factors relevant to your sector. Sign-up today for our sector specific training – it’s a one-hour webinar that’s been proven to be invaluable by many of our clients. 

7. Stay connected – contact us:

Have questions or concerns? Reach out to us. Whether you need clarification on a regulatory change or guidance on a specific compliance matter, we’re here to assist you.