The software establishes a standardized way for MSBs to evaluate their money-laundering dangers past checkbox compliance
MIAMI, Oct. 11, 2022 (GLOBE NEWSWIRE) — As a part of its efforts to make stronger anti-money laundering (AML) techniques world wide, ACAMS has introduced a brand new module of its ACAMS Possibility Evaluate™ software-as-a-service answer for cash products and services companies (MSBs), together with the ones providing virtual-asset services. The brand new module provides MSBs a standardized way of working out, measuring, and explaining the money-laundering dangers impacting their trade by means of a complete view in their AML, Sanctions, and Suspicious Task keep an eye on techniques.
Using a risk-based method, the utility answer is helping establishments to evaluate and measure their money-laundering dangers throughout merchandise, products and services, supply channels, buyer sorts, and geographies. As a multi-user platform, the software additionally lets in establishments to give the ones dangers on an enterprise-wide scale with the automatic era of presentation-ready studies and ultimate residual threat rankings.
Compliance pros might also use the utility and new module to draft forward-looking motion plans that may be submitted to inner and third-party auditors or regulatory examiners.
First introduced for banks and securities/funding corporations, ACAMS Possibility 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 technique.
“Amid the expansion of the virtual-assets marketplace and the disruptions brought about by means of the COVID-19 pandemic and different world occasions, it has transform more and more essential 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 prison abuses of non-bank money transactions and digital resources.”
“ACAMS Possibility Evaluate won’t best lend a hand MSBs measure their money-laundering dangers, however it’ll additionally permit them to supply complete studies on the place their compliance fault strains 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 growth, this software streamlines the evaluation procedure all over its complete existence cycle.”
To find out extra about ACAMS Possibility Evaluate right here.
ACAMS is the biggest world club group devoted to offering alternatives for anti-financial crime (AFC) training, perfect practices, and peer-to-peer networking to AFC pros globally. With over 100,000 contributors throughout 180 jurisdictions, ACAMS is dedicated to the undertaking of finishing economic crime throughout the provision of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, concept 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 thru coaching and networking projects. Consult with acams.org for more info.
CONTACT: Lashvinder Kaur ACAMS +44 7388 264478 [email protected]