Navigating AML/CTF
Our experts analyse the latest developments in anti-money laundering and counter-terrorism financing (AML/CTF), including latest reforms, dealing with risk, outsourcing and the A to Z of KYC.
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Langton Clarke and Taylor Green discuss independent reviews of AML/CTF programs: what are they and why are they important? They outline a three-tiered approach to take account of risks and cost inefficiencies.
Langton Clarke and Andrew Ong discuss how to deal with high-risk customers, especially politically exposed persons (PEPs), whether or not a business should choose to onboard a high-risk customer and why an AML/CTF program should be specifically tailored to a business and its risk appetite.
Langton Clarke and Elliott Stumm discuss outsourcing AML/CTF obligations, why a business might choose to outsource, who is legally liable if there is a breach of the obligations, and how to manage risks, quality assurance and record keeping.
Langton Clarke and Taylor Green discuss KYC, or knowing your client, under AML/CTF legislation, and the importance of identifying, verifying and authenticating your client by building a client profile. They outline all you need to know about KYC, including how to deal with trust deeds, why a KYC refresh can help avoid exploitation by bad actors, and why cyber security and privacy issues need to be top of mind.
Langton Clarke and Peter Jones discuss the latest reforms and developments in anti-money laundering and counter-terrorism financing (AML/CTF). With a new Bill recently tabled in Parliament, they outline the impact of the proposed reforms, including that 90,000 ‘tranche two’ entities are expected to become subject to regulation.
