AML COMPLIANCE

ANTI-MONEY LAUNDERING COMPLIANCE SERVICE

AURUM is pleased to offer qualified and experienced individuals to perform the functions of the AMLCO, MLRO and the DMLRO (together the “AML Officers”). The services include:

AMLCO

  • Advise the board of AML/ Combatting Financing of Terrorism (“CFT”) compliance issues requiring attention
  • Report to the board outlining systems and controls
  • Ensure adequate procedures for the reporting of suspicious activity
  • Maintain various logs including but not limited to those related to PEPs and declined business
  • Respond promptly to requests regarding AML/ CFT by the relevant authorities
  • Review the fund administrator policies and procedures
  • Ensure regular audits of the funds’ AML/ CFT program

MLRO

  • Point of contact for all suspicious activity reports
  • Reporting suspicious activity to the relevant authorities
  • Maintain a register of suspicious activity reports (reported and unreported)

DMLRO

  • Act as an alternate for the MLRO and discharge the functions should the MLRO be unavailable

The same person may act as the AMLCO and either MLRO or DMLRO
but the MLRO and DMLRO must be two separate individuals.

AMLCO REQUIREMENTS:

  • Adequate and appropriate knowledge and experience
  • Access to the information necessary to perform function
  • Appropriate resources to complete function

MLRO / DMLRO REQUIREMENTS:

  • Sufficient skill and experience
  • Access to the information necessary to perform function