ANTI-MONEYLAUNDERING

To prevent potential Money Laundering issues companies can turn to FAI to put their anti-money laundering (AML) compliance in place.

Supervisory Authorities / Regulators are responsible for monitoring compliance to anti-money laundering (AML) obligations of members under their supervision and in case of non-compliance disciplinary measures such as suspending or revoking their members’ operating license are applicable.

APPROPRIATE PROCEDURES SHOULD BE IMPLEMENTED FOR:

  • Know your Client (KYC)
  • Record-keeping
  • Recognising and Reporting Suspicions on Money Laundering
  • Educationting and training employees
  • Regular verification of compliance of policies, procedures and control systems relating to anti-money laundering activities through reports submitted to the relevant authorities or regulators