For both business and government, AML/CFT is an ever-present problem. For governments, the lack of mechanisms allows its financial systems to be exploited by criminals, officials who may launder ill-gotten gains or be used to finance terrorism, and even threaten national security.
For businesses, especially financial and designated non-financial institutions, systems and controls must be in place to prevent money laundering in compliance with the FATF Recommendations 2012; failure to do so may mean the business faces prosecution and/or administrative and other sanctions.
At Amicus, we are dedicated to assisting financial and designated non-financial institutions improve their AML/CFT measures through proper risk assessments, testing existing policies and procedures, as well as evaluating overall controls and compliance.
We also work alongside governments, financial intelligence units (FIUs) and investigative agencies to enhance and implement their AML/CFT legislation, regulations and implementation, through evaluations, drafting new laws or amendments, awareness raising workshops and training. Recent work in this regard has included extensive engagement with Ethiopia, Mauritius and Serbia.
All our clients have the benefit of access to our Solve:Interactive and Solve:Immersive in support of those activities.
Our Expertise:
- Advising and training both public and private sectors – including financial institutions – on the international AML/CFT framework
- Drafting laws and regulations
- Drafting and assisting in implementing proceeds of crime legislation for civil law and common law states
- Practical training for public and private sectors on AML/CFT