Building an AML framework that regulators and banks trust

Regulators and banking partners both look closely at a fintech's AML programme. A strong framework speeds up licensing and bank onboarding.

Core components

A business-wide risk assessment, customer due diligence and enhanced due diligence procedures, transaction monitoring, sanctions screening, suspicious activity reporting, training and independent review.

Governance

Clear ownership by a qualified MLRO, board oversight and documented management information make the programme credible.