Developing AML/CFT Programs is not easy - let us give you a hand!

AML Accelerate was founded by experts with decades of practical experience designing, operating and maintaining AML/CFT programs.

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WHAT IS AML ACCELERATE?

AML Accelerate Pty Ltd is a joint venture between Arctic Intelligence and Initialism, both widely recognised as thought leaders in anti-money laundering and counter-terrorism financing compliance, to provide solutions for businesses covered by AML/CTF law and regulations.

Our partnership brings a rare and unique combination of compliance and technology capabilities to develop accessible and affordable AML/CFT solutions.

Our solutions include an automated AML/CFT Program Manual that enables regulated businesses to accelerate their AML compliance efforts at an affordable price regardless of their size, industry sector or geographic location.

Our combined decades of experience and deep domain expertise have been put into the design and development of the AML/CFT Program Manual.

We have also launched the world’s first dedicated financial crimes solutions marketplace, and developed a dedicated jobplace for financial crime compliance professionals.

Our Mission

Our mission is to provide the software tools that allow organisations, regardless of size, sector or location, reduce money laundering and terrorism financing risks and ensure regulatory expectations are met for compliance with AML/CFT obligations.

Our Philosophy

We believe that all organisations should have access to affordable advice and technology that until now have not been available to them potentially exposing them to regulatory action resulting from a failure to demonstrate compliance with AML/CFT laws.

Our Promise

We have combined decades of hard-fought experience and deep domain expertise into the design and development of the AML/CFT Program Manual and are passionate about delivering innovative solutions to help organisations meet their AML/CFT compliance obligations, with the minimal disruption to normal business operations.

ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM (AML/CFT)

Governments are under increasing international pressure, to refine, enhance and increase the obligations under existing AML/CFT regimes.

Governments globally are also expanding AML/CFT laws to include other gatekeepers, which are increasingly being targeted by organised crime to launder the proceeds of their criminal activities.

As a result millions of organisation’s across a diverse range of sectors in all 200 Financial Action Task Force (FATF) member countries will need to comply with increasingly money laundering regulations.

The AML/CFT Challenge

At the heart of AML/CFT law and regulation is the Risk Based Approach and a mandatory requirement to perform an Money Laundering /Financing Terrorism (ML/FT) Risk Assessment contemplating multiple factors to identify, assess, mitigate and manage ML/FT risks.

Based on the ML/FT Risk Assessment, organisations must then develop an AML/CFT Program of controls that is proportionate to the identified ML/TF risks and which clearly outline how the organisations address the mandatory requirements, including (but not limited to):

  • Governance and oversight of the AML program
  • Customer identification / know your customer
  • PEP and sanctions screening
  • Ongoing customer due diligence
  • Transaction monitoring
  • Suspicious activity and matter reporting
  • Employee due diligence
  • AML risk awareness training
  • Record keeping
This presents a significant challenge to regulated entities that often lack the skills, experience and resources to develop a comprehensive AML/CFT Program.

How we solve it

The AML/CFT Program Manual provides a structured process for a number of foundational and mandatory components to achieve compliance with AML laws and regulation.
  • Company Information
  • ML/FT Risk Assessment
  • AML Program
  • Customer Due Diligence (CDD) Standards
  • AML Operating Manual
  • Supporting Documents (i.e. glossary, country risk assessment and reference library)

The AML/CFT Program Manual is tailored to over 30 industry sectors and applicable to all regulated entities regardless of their size, industry sector or geographic location.

Using AML Accelerate’s proprietary methodology, leveraging internationally recognised methodologies and frameworks, the AML/CFT Program Manual follows a structured approach to assessing Money Laundering (ML) and Terrorism Financing (TF) risk, documenting and developing controls to mitigate the ML/FT risks in a proportional and pragmatic way.

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