ابدأ بالتواصل مع الأشخاص وتبادل معارفك المهنية

أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.

متابعة

Can you explain the basic elements of an anti-money laundering program?

user-image
تم إضافة السؤال من قبل Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
تاريخ النشر: 2017/04/12
Saad Bin Shahid
من قبل Saad Bin Shahid , Accountant , Crown Specialized for Steel Contracting Co. Ltd.

An anti-money laundering (AML) program is a part of control system in an organisation to protect against money laundering activities by means of organisation. In a sound AML program includes the following:

1. Designing Internal policies and procedures and implementing controls to assure compliance with anti-money laundering laws and other criminal laws.

2. There should be compliance officer who supervises this program, receive information regarding any money laundering activity in the organisation and also reports money laundering activity to authorized bodies.

3. In an organisation there should be training program on ongoing basis to develop the understanding of the working staff  

4. External Independent Audit. 

Wasif Mehmood
من قبل Wasif Mehmood

An anti-money laundering (AML) program is a set of procedures designed to guard against someone using the firm to facilitate money laundering or terrorist financing. The main components that must be included are: 1) internal policies, procedures, and controls reasonably designed to assure compliance with the Bank Secrecy Act and implementing regulations; 2) appointment of a designated compliance officer to oversee the program's day-to-day operations; 3) an ongoing training program; and 4) an independent audit.

Visal Joseph
من قبل Visal Joseph , Tax Manager , Al Mizan Tax Consultants L.L.C

Good question. Waiting for the answer.