Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Health Check
Since 2008, banks have paid over USD$261 billion in fines for non-compliance with financial crime laws. Many AML/CFT Programs are falling way short of what regulators expect of them, allowing organised crime to launder trillions of dollars a year through the world economy. We built the AML/CFT Health Check to help regulated entities assess the effectiveness of their AML/CFT Programs and identify, track and manage, deficiencies which could expose them to significant financial, regulatory and reputational risk.
There are now over 190 Financial Action Task Force (FATF) member countries that are subject to mutual evaluations to assess the effectiveness of each countries AML/CFT legal and regulatory framework. Globally, AML/CFT legislations applies to millions of organisations, of different shapes and sizes, across a diverse range of financial and non-financial sectors, requiring them to comply with a complex and ever changing set of AML/CFT compliance requirements.