November 2015
Beginner
400 pages
11h 51m
English
Content preview from Essential Strategies for Financial Services Compliance, 2nd Edition
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Appendix BRoutine Anti-Money Laundering Activities
This appendix contains details of some of the routine anti-money laundering activities most commonly undertaken by the Compliance Officer and/or the Money Laundering Reporting Officer. It is important to remember that the guidance provided on each area provides summary guidance only and you should tailor the procedures and controls within your own firm to the specific requirements of your business activities and customer base.
| Activity | |
| KYC approvals for new relationships | 207 |
| Financial sanctions | 210 |
| Suspicions of money laundering | 211 |
| KYC reviews | 213 |
| KYC introductions from third parties | 214 |
| Third parties completing KYC on your firm | 215 |
| Provision of KYC introductions to third parties | 215 |
| Patriot Act certificate | 216 |
| Politically exposed persons | 217 |
| MLRO reporting | 218 |
| Counter-terrorist financing | 219 |
| Topic | KYC approvals for new relationships |
| Objective | Ensure that no customer relationships are commenced without KYC first having been completed. |
| Explanation |
|
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