The Importance of Internal AML Testing Programs
Join us this Saturday for an exciting Knowledge Series session to earn more about internal AML testing.
About this Event
Description TCAE is excited to invite Laura Houlihan, Associate Director, Financial Crimes Advisory at AML RightSource to share her insights on the importance of internal AML testing programs. In this session, Laura will explain the importance of having a proactive approach to ensuring that AML/ATF policies, procedures and specific mitigating controls are adhered to. The session addresses how mistakes are common and therefore Reporting Entities must conduct ongoing testing and/or self-assessments as there can be severe repercussions stemming from deficiencies noted in an examination or audit. During this session, Laura will also review key best practices with respect to developing and implementing AML Compliance testing programs so there are no surprises when the regulator or independent auditor arrives.
- Why conduct ongoing testing;
- Developing an internal testing/assessment program;
- How to carry out the testing;
- How to always be “exam ready”; and
- How to ensure the Board is on-board!