AML Audit and Review

AML Audit and Review

Ensuring your business’s Anti-Money Laundering (AML) practices are effective and compliant is crucial for maintaining regulatory standards and mitigating financial crime risks. IHAA provides comprehensive AML audit and review services to assess and enhance your company’s AML compliance. Our expert team conducts in-depth audits to evaluate the effectiveness of your AML policies, procedures, and controls, identifying areas for improvement and ensuring adherence to UAE Federal Financial Monitoring Authority (FFMA) regulations and international standards.

AML Audit and Review Process:

1. Pre-Audit Preparation: We begin with a preliminary review of your existing AML policies, procedures, and records to understand your current compliance status.
2. Detailed Audit: Our team performs a thorough audit of your AML practices, including transaction monitoring, customer due diligence, and record-keeping, to identify compliance gaps and areas of risk.
3. Regulatory Assessment: We evaluate your adherence to relevant AML regulations and standards, ensuring that your practices meet all legal requirements.
4. Findings and Recommendations: We provide a detailed report outlining our findings, including any deficiencies and recommendations for enhancing your AML controls and procedures.
5. Implementation Support: Assistance with implementing recommended changes and improvements to strengthen your AML framework and ensure ongoing compliance.
6. Follow-Up Reviews: Ongoing support and periodic follow-up audits to monitor progress and ensure that your AML practices continue to meet regulatory requirements.

How IHAA Can Assist:

The IHAA team offers expert AML audit and review services, providing:

• Comprehensive Audits: In-depth evaluation of your AML practices and controls to ensure compliance with regulations and industry standards.
• Expert Recommendations: Detailed insights and actionable recommendations for improving your AML policies and procedures.
• Implementation Assistance: Support in applying recommended changes and enhancements to your AML framework.