Yes, as an accountable institution, you are required to perform AML screening. This includes conducting risk-based assessments, ongoing monitoring, and reporting to ensure compliance with Anti Money Laundering(AML) regulations and to mitigate the risks of money laundering and terrorist financing.

In addition to clients, businesses may also need to screen other parties such as employees, vendors, business partners, and third-party service providers. Screening these entities helps mitigate risks associated with money laundering and terrorist financing.

An RMCP is a comprehensive program outlining an organization's approach to managing Anti Money Laundering(AML) risks and complying with regulatory requirements.

Yes, accountable institutions registered with FIC must have an RMCP in place.

Policies, procedures, and controls for Anti Money Laundering(AML) screening, risk assessments, ongoing monitoring, reporting, and training.

Review and update your RMCP regularly, at least annually, or when there are changes in regulations or your business.

Yes, AML GO provides RMCP development and implementation support, along with ongoing monitoring and reporting.

Yes, each company needs a customized RMCP tailored to its specific risks and requirements.

A risk matrix is a tool that assesses the risk level of each client or transaction. Your RMCP should include a risk matrix that assigns a score and risk band based on specific risk factors.

AML GO's risk matrix uses sophisticated algorithms to assess risk factors like country risk, industry risk, source of funds risk and more, assigning a score and risk band to each screened individual or entity.

AML GO helps you comply with Anti Money Laundering(AML) regulations by providing real-time screening, ongoing monitoring, and comprehensive reporting, in line with your company’s RMCP. It simplifies the process of conducting risk-based assessments and batch screening, ensuring that your business meets regulatory requirements. Additionally, AML GO offers credit risk vetting tools to improve your credit decision-making process.

AML GO is a cutting-edge solution for Automated Money Laundering (AML) screening and credit risk solutions. It uses advanced algorithms to perform real-time risk-based screening on individuals and entities, flagging those with potential links to illegal activities.

Businesses that need to comply with Anti Money Laundering(AML) regulations, including all accountable institutions like estate agents, banks, financial institutions, credit providers, legal firms, long term insurance companies, high-value goods dealers, foreign exchange dealers, crypto asset service providers, gaming companies registered under the National Gambling Board, or any business handling significant financial transactions.

AML GO uses advanced algorithms and machine learning to screen clients against sanctions lists, PEP lists, and other high-risk indicators, providing real-time results and continuous monitoring.

Yes, AML GO meets and exceeds regulatory requirements, including those set by the Financial Intelligence Centre (FIC) in South Africa.

Sign up seamlessly on our website for free. You can also contact us to schedule a demo and discuss your specific needs, if you want. Our team will guide you through the implementation process.

Absolutely! AML GO uses state-of-the-art encryption and security measures to protect your data.

Yes, AML GO offers flexible configuration options to meet your specific requirements.

Our dedicated support team is available to assist with any questions or issues, providing top-notch customer service.

Yes, you must screen a new client during the onboarding process to assess their risk profile. Additionally, you should conduct Anti Money Laundering(AML) screening for each new transaction, especially for high-risk clients or transactions, to ensure ongoing compliance and to detect any suspicious activities. AML GO facilitates this process by automating the screening and monitoring tasks.

The frequency of screening depends on the risk profile of the existing client. High-risk clients may require more frequent screening, while low-risk clients might be screened periodically. AML GO can help you establish a risk-based approach to determine the appropriate screening intervals for each client.

Yes, AML GO can screen both individuals and companies against sanctions lists, PEP lists, and other high-risk indicators.

PEP (Politically Exposed Persons), PIP (Prominent Influential Persons), and sanctions lists are typically updated daily to reflect the most current information. AML GO ensures you have access to the latest data by integrating these updates in real-time, helping you maintain compliance with the most recent regulations and risk indicators.

AML GO screens against several important lists to ensure comprehensive compliance with Anti Money Laundering(AML) regulations and to mitigate financial crime risks. These lists typically include:

• Politically Exposed Persons (PEP) Lists: These lists identify individuals who hold prominent public positions or have close associations with such individuals. PEPs are considered higher-risk due to their potential for involvement in corruption or bribery.
• Sanctions Lists: Sanctions lists include targeted financial sanctions for individuals, entities, or countries subject to economic or trade sanctions imposed by national or international authorities. Screening against sanctions lists helps prevent transactions with sanctioned entities or individuals.
• Adverse Media Lists: These lists contain information from news articles, regulatory notices, and other public sources that indicate potential involvement in financial crimes, corruption, fraud, or other illicit activities.
• Internal Watchlists: Some organizations maintain internal watchlists on AML GO, specific to their business operations, identifying clients or transactions that require enhanced scrutiny due to suspicious behaviors or risk factors.
• Global Watchlists: AML GO may also screen against global watchlists that aggregate data from various international sources to identify individuals or entities associated with financial crime activities worldwide.

By screening against these comprehensive lists, AML GO helps businesses identify and mitigate risks associated with money laundering, terrorist financing, and other financial crimes. This proactive approach not only ensures compliance with regulatory requirements but also protects businesses from reputational damage and financial penalties associated with non-compliance.