Regulatory AML Audit for EMI-Licensed Company

The Client

An EMI-licensed financial company facing a critical regulatory audit with the risk of potential license cancellation.

Our Offering: Regulatory Audit of AML Department

We offered a comprehensive audit of the client's AML department to identify potential risks, ensure regulatory compliance, and provide peace of mind.

The Challenge: An Urgent Need for Compliance

The company faced a regulatory audit within just two months and feared the loss of their license. Our mission was clear: to conduct an in-depth review of their AML documents, align their policies with updated regulations, and prepare them thoroughly for the audit. Key action points included:

Reviewing and auditing all AML documentation (policy, risk management, disaster recovery).
Identifying misalignments with the latest regulations.
Updating statistics, risk metrics, and records with real-time data.

The Solution: A Quick, Thorough, and Proactive Approach

We hit the ground running to ensure the company was audit-ready:

Comprehensive Audit in Record Time: The final report analyzing the AML department was completed in just 12 business days.
Identification of Gaps and Misalignments: We thoroughly reviewed all policies and documentation to pinpoint gaps and misalignments with current regulatory requirements.
Policy and Procedure Harmonization: Critical areas like KYC onboarding and transaction monitoring were updated to align with the latest standards.
Alignment with Regulatory Requirements: Within 11 business days, we ensured all documents and procedures were aligned with the regulator’s expectations.

The Results: Compliance and Confidence

Our swift and thorough approach ensured that the company:

Passed the Regulatory Audit Successfully: Their license remained intact, maintaining their status as a trusted payment institution.
Achieved Full Compliance in Record Time: In just 23 business days, we were able to assess, prepare, and fully align the AML department with regulatory requirements, setting the client up for continued compliance success.

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