Why Is Customer Due Diligence an Important Component of an AML/CFT Compliance Programme
Customer Due Diligence refers to anti-money laundering compliance onboarding, client risk profiling, monitoring and reporting. An AML/CFT customer risk rating enables a business to understand the nature and purpose of the customer relationship. If the business understands the expected account activity, then unusual or suspicious activity is easier to detect. Most countries are now operating under laws requiring risk-based decision making and Know Your Customer risk scoring. AML360™ provides businesses the simple but effective solutions to automated risk customer profiling and reporting.
Regardless of what industry you are operating in, AML360™ has a solution for your business to automate Customer Due Diligence including client risk scoring, client risk reporting and ongoing monitoring reports if required. If your business is looking to improve compliance whilst reducing AML/CFT compliance costs, AML360™ will assist you achieve that goal. If you are a solution for reviewing your current compliance status, check out the AML360™ AML/CFT Health Check. If it is an AML/CFT Audit you are interested in, we can help there too.