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Anti-Money Laundering (AML) Policy Template for Fintech and Digital Banking – Europe

$113.00

Enhance your fintech’s AML compliance with our comprehensive policy template. It covers risk assessment, user onboarding, transaction monitoring, and more. Ideal for digital banks and fintech startups aiming to balance regulatory compliance with user-friendly practices. Download to align your brand with best practices in financial crime prevention and user transparency.

Description

Elevate your fintech or digital banking startup’s approach to combating financial crime with our comprehensive Anti-Money Laundering (AML) Policy template. This detailed document provides a transparent and thorough framework for implementing effective AML and Counter-Terrorist Financing (CTF) measures.

Key features of this policy template include:

  1. Clear Roles and Governance Structure: Defines responsibilities from the Managing Board to the Compliance Operations team, ensuring accountability at all levels.
  2. Risk Appetite Statement: Articulates the company’s stance on compliance and user acceptance, setting clear boundaries for business operations.
  3. Systematic Integrity Risk Analysis (SIRA): Outlines a process for identifying, analyzing, managing, and monitoring integrity risks.
  4. Risk Classification Models: Describes both onboarding and dynamic risk scoring models for personal and company users, ensuring ongoing risk assessment.
  5. Detailed Onboarding Procedures: Covers processes for both individual and company users, emphasizing identity verification and beneficial ownership identification.
  6. Comprehensive AML Measures: Includes country and industry risk rankings, transaction monitoring (both pre- and post-transaction), source of funds verification, and screening processes.
  7. Enhanced Due Diligence and Periodic Reviews: Provides guidelines for applying additional measures to high-risk relationships and keeping user files up-to-date.
  8. Off-boarding Procedures: Outlines the approach to terminating relationships with users suspected of misusing services.
  9. Policy Deviation Process: Describes the procedure for requesting and approving exceptions to the policy in extraordinary circumstances.

This template is ideal for fintech startups and digital banks aiming to implement a transparent, user-friendly, yet robust AML framework. It emphasizes an ‘inside=outside’ approach, promoting transparency with users while maintaining strong compliance standards.

Customizable to fit your company’s specific risk profile and regulatory environment, this template provides a solid foundation for creating an AML policy that balances regulatory compliance with user experience. Download now to strengthen your fintech’s commitment to financial integrity while maintaining transparency with your users.