AML Audit Guidelines for Financial Institutions’ Reviews

An AML audit (Anti-Money Laundering audit) is a thorough review of a financial institution’s anti-money laundering (AML) practices. The purpose of the audit is to ensure that the institution is following laws and regulations designed to prevent financial crimes, such as money laundering and terrorist financing.

The audit checks if the institution’s AML policies, procedures, and systems are effective and in line with local and international standards. It looks at areas like customer screening, transaction monitoring, suspicious activity reporting, and employee training.