Frequently Asked Questions
Review, audit, and test are used interchangeably. An independent AML audit is actually a test of the institution’s AML program. It is not a financial audit, but rather a review to see whether the institution has an appropriate AML program and is effectively doing what it says it’s doing.
First download our services brief, and then we can schedule a call with you to discuss how to get started.
In order to provide a proposal for services, we require you to complete our confidential questionnaire, which includes various information about your institution. This information allows us to estimate the time it will take to conduct the review and the fees associated with the service.
AMLAS understands that small to large institutions require the same comprehensiveness in a review. Just because an institution is small doesn’t mean you are expected to do less! AMLAS’ professional fees are based on the time it takes to complete a comprehensive review from start to finish. We take pride in offering high-quality value scaled to size.
We can scope and deliver any type of review – from a CIP/CDD review to a suspicious activity review. Tell us what you need and we can tailor it to your institution!
If my company is not subject to AML regulations but wants to have a review of its program, can you help us?
We perform reviews of voluntary programs all the time. Certain exclusions will apply. Ask us how it works!
AMLAS is often engaged by the internal audit manager to serve as the subject matter expert for a review. Give us a call at 800-870-8076 to learn more.
AMLAS frequently trains internal audit personnel on various aspects of BSA/AML/OFAC audit. Give us a call at 800-870-8076 to learn more.
Does AMLAS perform independent verification and validation (“IVV”) of AML systems, frequently referred to as model validation?
AMLAS maintains alliances with select providers of IVV, remediation, and other AML systems services. We often coordinate services for the annual audit. Contact us to learn more.