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Independent Evaluation
Under Australia's AML/CTF regime, firms are required to undertake an independent evaluation of their AML/CTF Program at least once every three years.
However, many firms choose to have an independent evaluation annually. If something in your AML/CTF framework isn't working properly, most firms would rather know about it sooner rather than later.
An independent evaluation can identify gaps in your policies, procedures, client due diligence processes, training or governance arrangements before they become larger compliance issues.
How it works
Our independent evaluations assess both the design and operational effectiveness of your AML/CTF Program, including:
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Your Firm-Wide Risk Assessment
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AML/CTF policies and procedures
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Client due diligence processes
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Reporting and record-keeping arrangements
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Governance and oversight
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Training and competency
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The practical operation of your controls
Following the evaluation, you'll receive a detailed written report outlining:
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Areas of good practice
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Compliance gaps and weaknesses
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Recommendations for improvement
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Practical next steps
Our evaluations are practical, proportionate and designed to help firms strengthen their compliance frameworks, not simply identify issues.
Whether you require your statutory independent evaluation or simply want assurance that your AML/CTF framework is operating effectively, we can help. Book a consultation.