Tag Archives: client due diligence

Common Issues Arising on AML Monitoring Visits

The various professional bodies are ramping up their anti-money laundering (AML) inspection regime, as there is more and more pressure coming at EU level, on professional bodies, to improve the consistency of the inspection system. The main issues that are arising for Irish firms on recent AML inspections are: Lack of written procedures which evidence… Read More


Jurisdictions with Strategic AML Deficiencies

When you are doing your Client Due Diligence on a new client/customer, did you ever wonder where you could obtain a list of sanctioned or high-risk territories/jurisdictions? Well, a reliable source is near at hand. The Financial Action Task Force (FATF) identifies jurisdictions with weak measures to combat money laundering and counter terrorist financing (AML/CFT)… Read More


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More than a decade on: why is AML still an issue?

It would seem fair to assume that after eleven years the profession has got to grips with the anti-money laundering (AML) regulations. However they remain one of the key problem areas encountered on regulatory inspections. Perhaps the obvious reason for failing to focus on AML procedures is that firms can’t raise a fee note for… Read More