UPDATED AML COMPLIANCE GUIDANCE

Updated Member Guidance

Updated guidance is made available for AIA members supervised for AML to ensure their compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR2017).

The Compliance Checklist should be read in conjunction with the MLR2017, additional guidance issued by AIA and other regulatory authorities.

AIA has also provided guidance for use when explaining the importance of client due diligence with clients on establishing a business relationship.

The checklist covers the following areas, which are reviewed during an AIA Monitoring Visit:

  • Policies, controls and procedures
  • Training and Awareness
  • Record keeping
  • Risk assessment
  • Client due diligence
  • Reporting
  • Supervision
  • Monitoring

AIA has also provided guidance for use when explaining the importance of client due diligence with clients on establishing a business relationship.

The compliance checklist and client guidance are available through the Secure Document Library, accessed through MyAIA.