AML - Anti-Money Laundering
AML, Anti-Money Laundering, is a solution to detect and prevent illegal money laundering, ensuring transparency and fairness in the financial market.
Anti-Money Laundering Certification Process
The certification process involves certification application, audit, and certificate decision.
- First, the certification application determines the subject and scope of certification based on the contract. The certification process is selected in accordance with the standard model.
- Second, the audit involves conducting document reviews, online interviews, and assessments. The deficiencies identified during the audit will be resolved through supplementary measures.
- Finally, the certificate decision is based on the result report, and the certification is issued after the result is notified. The certificate shall be audited annually and recertified three years later.
DNV certifies international standard models specified by ISO, IEC, ITU, BSI, UNECE, JIS, SAE and ASTM. In addition, if a standard model is required, a Statement of Compliance (SoC) certification is performed to select the standard model.
The Anti-Money Laundering audit topics
The Anti-Money Laundering certification selects a standard model based on the Financial Action Task Force (FATF)-managed best practices. The Anti-Money Laundering audit topics include:
- Suspicious Transaction Report (STR) assessment and evaluation
- Current Transaction Report (CTR) assessment and evaluation
- Know Your Customer Evaluation (KYC) assessment and evaluation
- AML Screening assessment and evaluation
- The controlled environment assessment and evaluation (regulations, guidelines, organizations, people, processes)