Anti-Money Laundering (AML) Compliance
At Livaty, we specialise in taking the burden of Anti-Money Laundering (AML) compliance off your shoulders. Our comprehensive AML services help businesses across the UK stay ahead of regulatory requirements while protecting their operations from financial crime risks.
With our expertise, your business can focus on what it does best, while we handle the intricacies of AML compliance for you. We provide tailored support at every stage, from initial assessments to the creation and maintenance of robust AML frameworks, giving you peace of mind.
What is AML Compliance?
Contact Livaty today to learn how we can take the stress of AML compliance off your hands. Let us handle the complexities while you focus on growing your business, with the confidence that your operations are safeguarded against financial crime.
Get in touch
If you are setting up a new company, our team can guide you through the entire AML compliance process from day one, allowing you to focus on launching your business.
We perform an initial audit of your business, assess potential risks, and draft AML policies tailored to your industry and customer base.
We then assist with implementing these procedures, including staff training and setting up systems for record-keeping and reporting to ensure compliance with MLR 2017.
AML Services for New Businesses
Why choose us?
Our AML Compliance Services
AML Audit
-
We conduct thorough audits of your existing AML policies and procedures, identifying any gaps or areas of non-compliance.
-
Our audits include a detailed assessment of your compliance with key areas such as Suspicious Activity Reporting (SARs), the Proceeds of Crime Act 2002 (POCA), and the Terrorism Act 2000.
-
After the review, we provide a comprehensive report outlining our findings, along with practical recommendations for remedial actions to ensure full compliance with the law.
-
Following the comprehensive report, we take care of the necessary updates and corrections for you, minimising disruption to your business and ensuring compliance is achieved quickly and effectively.
Risk Assessment & Management
-
Understanding the risks your business faces is crucial for effective AML compliance. We conduct detailed risk assessments to identify potential risks related to money laundering and terrorist financing.
-
Our risk-based strategies take into account geographic risks, customer risks, product risks, and more, ensuring a balanced approach without overwhelming your team.
-
Based on the findings, we design risk-based AML strategies, ensuring your business maintains a proportionate approach to monitoring and managing risks.
-
By letting us manage your risk assessment and mitigation processes, you reduce the workload on your staff and strengthen your compliance posture.
Policies & Procedures
-
We develop customised AML policies and procedures that meet the specific needs of your business and comply with the UK's Money Laundering Regulations (MLR) 2017, as amended.
-
Our services include drafting detailed Customer Due Diligence (CDD) procedures, Enhanced Due Diligence (EDD) processes, and guidelines for ongoing monitoring.
-
We ensure that your policies align with the requirements of supervisory authorities like HM Revenue & Customs (HMRC), the Financial Conduct Authority (FCA), and other relevant bodies, taking the stress of compliance off your hands.
General AML Support & Advice
-
Our consultancy provides ongoing support to help your business navigate the complexities of AML compliance.
-
We offer guidance on training your staff to recognise and report suspicious activities, ensuring they are up to date with the latest legal and regulatory changes.
-
Whether you need advice on the application of AML laws to your specific sector or help with preparing for regulatory inspections, our team is here to assist.