Independent AML Audit
for Financial Institutions
Our AML audits provide thorough assessments to ensure your business meets all regulatory requirements, safeguarding your operations and reputation.
Key Benefits of Our AML Audit
- Independent and objective evaluation – Unbiased assessment by experienced AML professionals.
- Tailored to your industry and jurisdiction – Customized audits that reflect your specific business model and regulatory environment.
- Actionable recommendations – Clear, practical steps to enhance your compliance framework.
- Support with remediation – Guidance on how to close gaps and implement improvements effectively.
- Helps meet regulatory expectations – Ensures your AML program aligns with current legal and supervisory requirements.
- Enhances trust and credibility – Demonstrates your commitment to compliance to partners, regulators, and clients.
What are AML audits?
AML audits are comprehensive evaluations of an organization’s anti-money laundering policies and procedures. They assess compliance with relevant regulations and identify potential risks, ensuring that the organization effectively mitigates money laundering threats.
Who needs AML audits?
AML audits are essential for any organization subject to anti-money laundering regulations. This includes financial institutions, Virtual Asset Service Providers (VASPs), Payment Service Providers (PSPs), Electronic Money Institutions (EMIs), and other regulated entities. Regular audits help ensure your AML framework remains robust, up to date, and aligned with evolving regulatory expectations.
Why are AML audits important?
AML audits are crucial for organizations to ensure compliance with legal requirements and to protect against financial crimes. They help identify weaknesses in existing systems, enhance risk management strategies, and build trust with stakeholders by demonstrating a commitment to regulatory compliance.
Frequency of AML audits
AML audits should be conducted at least annually, or more frequently if there are significant changes in regulations or business operations.
What is the outcome of the audit?
The outcome of an AML audit includes a detailed report outlining the findings, recommendations for improvements, and an action plan to address any identified deficiencies. This report serves as a roadmap for enhancing compliance and mitigating risks associated with money laundering.
Do startups need AML audits?
Yes. Even startups and smaller regulated entities—such as VASPs, PSPs, and MSBs – are required to maintain robust AML controls. Regular audits help these businesses stay compliant, avoid regulatory issues, and build trust with partners and customers.
How We Conduct AML Audit
1. Preparation Phase
Defining the audit scope: We will agree with you which areas will be covered.
Document request: We will request relevant documentation, such as the AML/CTF policy, customer files, STR/SAR records, internal audit logs, etc.
Applicable regulations: The audit is conducted in line with the jurisdiction’s regulatory requirements.
2. Review of Internal Documentation
We will examine:
- AML/CTF policies and procedures
- KYC/KYB process documentation
- Risk-based approach methodology
- Screening for PEPs, sanctions, and adverse media
- Risk assessments procedure
- Staff awareness, including MLRO/Compliance Officer
3. Sampling and Testing
KYC/KYB files review – we will verify if CDD/EDD is properly conducted and risk profiles are accurate.
Sample transactions review – we will review if any suspicious activity was identified and how the company responded.
STR/SAR logs review(if any) – we will check if suspicious activity was escalated, and reported as required.
4. Staff Interviews
We will conduct interviews with the MLRO/Compliance Officer and key staff members.
We will evaluate staff awareness of AML obligations, escalation procedures, and high-risk scenarios.
5. Technical Systems Review
We will evaluate:
- The AML systems in place for transaction monitoring, CDD/EDD, etc.
- Whether there are proper logs, alerts, and audit trails.
- Integration with sanctions, PEP, and negative news databases.
6. Report and Recommendations
At the end we will provide a detailed report outlining:
- Identified deficiencies or gaps
- Areas for potential enhancement or optimization
- Recommendations for remediation and improvements
The report usually includes a compliance rating (e.g., fully compliant, compliant with minor issues, non-compliant).
Deadlines may be set for remediation.
Operating as a VASP?
We offer a specialized audit just for you — with a focus on crypto-specific AML risks
We Are Tailored For Your Compliance Needs
Need an AML audit or other compliance services?
Get in touch for a consultation.