AML Audit for VASP & Crypto Exchange
Independent, in-depth AML audit tailored to crypto businesses, such as crypto exchanges, crypto wallets, blockchain-based payment providers. Ensure your VASP meets regulatory expectations and builds trust with partners, clients, and banks.
Why VASPs Need AML Audit?
VASPs operate in a high-risk, high-scrutiny environment. Regulators and banking partners increasingly require independent AML audit to verify that your compliance framework is effective, risk-based, and aligned with regulatory standards.
Common reasons VASPs request audit:
- Regulator inspection readiness
- Bank account opening
- Licensing application or renewal
- Internal risk management
- Investor due diligence
What We Cover during a VASP AML Audit
AML/CTF policies and procedures
Customer onboarding & KYC/KYB process
Risk assessment methodology
Transaction monitoring
Blockchain analytics usage
Record keeping & reporting obligations
Sanctions & PEP screening systems
Training and governance
* The scope can be adjusted based on your licensing stage, jurisdiction, and internal needs – whether you’re launching, scaling, or preparing for inspection.
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.
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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
- Blockchain analysis and wallet screening
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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.
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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.
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5. Technical Systems Review
We will evaluate:
The AML systems in place for transaction monitoring, CDD/EDD, wallet screening, etc.
Whether there are proper logs, alerts, and audit trails.
Integration with sanctions, PEP, and negative news databases.
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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.
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Jurisdictions We Work In
We provide AML audits and advisory services to VASPs across different regulatory environments. Our team has experience working with the entities across the globe!
🇪🇺 European Union
🇨🇦 Canada
🇦🇪 UAE
🇭🇰 Hong Kong
🇬🇧 United Kingdom
🇨🇭 Switzerland
🇸🇬 Singapore
🌍 Other markets
Need an AML audit for your VASP?
Get in touch for a consultation.