Financial institutions are legally obliged to implement systems to combat money laundering and terrorism financing. Financial Institution regulators and players have come under increasing pressure to implement Anti-Money Laundering (AML) laws in the face of rising crime posed by the drug traffickers, international terrorism, and illicit arms dealers operating in the region. At the same time, auditors are encouraged to ensure that the spirit and letter of the law is being strictly implemented.
AML Compliance helps organizations identify, assess, mitigate and monitor the risks associated with money laundering and financing of terrorism.
Our focus areas;
- Undertaking a gap assessment based on AML Global standards and Central Bank of Kenya (CBK) Regulations.
- Designing an AML risk assessment policy framework
- Conducting an AML risk based assessment
- Development of a mitigation plan and recommendation
- Assisting the organization to implement an AML requirements.
At Kenya Factors we understand that success is the result of implementing a series of basic disciplines and processes which lead to the adoption of positive habits. True and lasting success comes from naturally carrying out learnt procedures and methods.