The instrument establishes a standardized manner for MSBs to evaluate their money-laundering dangers past checkbox compliance
MIAMI, Oct. 11, 2022 (GLOBE NEWSWIRE) — As a part of its efforts to improve anti-money laundering (AML) methods world wide, ACAMS has introduced a brand new module of its ACAMS Chance Evaluate™ software-as-a-service answer for cash products and services companies (MSBs), together with the ones providing virtual-asset services and products. The brand new module provides MSBs a standardized manner of figuring out, measuring, and explaining the money-laundering dangers impacting their industry by way of a complete view in their AML, Sanctions, and Suspicious Job keep an eye on methods.
Using a risk-based way, the application answer is helping establishments to evaluate and measure their money-laundering dangers throughout merchandise, products and services, supply channels, buyer varieties, and geographies. As a multi-user platform, the instrument additionally lets in establishments to give the ones dangers on an enterprise-wide scale with the automatic era of presentation-ready experiences and ultimate residual menace rankings.
Compliance pros may additionally use the application and new module to draft forward-looking motion plans that may be submitted to interior and third-party auditors or regulatory examiners.
First introduced for banks and securities/funding corporations, ACAMS Chance Evaluate attracts upon the world over known suggestions and the consolidated enter of high-level AML compliance professionals in the private and non-private sectors as a foundation for its method.
“Amid the expansion of the virtual-assets marketplace and the disruptions led to via the COVID-19 pandemic and different world occasions, it has develop into increasingly more necessary that economic establishments perceive the hazards they’re going through,” mentioned ACAMS CEO Scott Liles. “That’s why we’re excited to release this module to fortify the MSB sector in assessing its publicity to the felony abuses of non-bank money transactions and digital resources.”
“ACAMS Chance Evaluate is not going to most effective lend a hand MSBs measure their money-laundering dangers, however it’ll additionally permit them to provide complete experiences on the place their compliance fault traces lie and the way they plan to steer clear of them,” he mentioned. “Whether or not you’re comparing dangers on an enterprise-wide scale or assessing the compliance demanding situations of an operational enlargement, this instrument streamlines the evaluation procedure all the way through its whole lifestyles cycle.”
To find out extra about ACAMS Chance Evaluate right here.
ACAMS is the biggest global club group devoted to offering alternatives for anti-financial crime (AFC) schooling, highest practices, and peer-to-peer networking to AFC pros globally. With over 100,000 individuals throughout 180 jurisdictions, ACAMS is dedicated to the undertaking of finishing economic crime during the provision of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, idea management, risk-mitigation products and services, ESG projects, and platforms for public-private discussion. The affiliation’s CAMS certification is the gold-standard qualification for AFC pros, whilst the CGSS certification is its premier specialist qualification for sanctions pros. ACAMS’ 60 Chapters globally additional enlarge the affiliation’s undertaking via coaching and networking projects. Seek advice from acams.org for more info.
CONTACT: Lashvinder Kaur ACAMS +44 7388 264478 [email protected]