AML policy and procedures framework
We provide a policy and procedures framework which you can download and should adapt for your firm. The document has been designed to work alongside the Xama Hub AML platform and is informed by various guidelines, as stated in the appendix, and experience of working with other firms.
The document aims to help you to:
- Define your services and jurisdiction you operate in
- Put processes in place to carry out customer due diligence
- Document the assessment of client risk and enhanced due diligence
- Ensure relevant staff training is offered to your staff and enable good record keeping
- Manage internal and external suspicious activity reporting
Please note that this is a framework provided without any guarantees of compliance. You should review your policy and procedures regularly to ensure you meet compliance standards set by your supervisory body.