Fighting financial crime is not for the faint-hearted. You need the most experienced, battle-hardened team in your corner.
If you work in financial services, bullion, gambling, or the digital currency exchange, or are a reporting / designated entity, your firm may be at risk of money laundering and terrorism financing.
In order to comply with the obligations of the AML/CTF Act (Anti-Money Laundering / Counter-Terrorism Financing), organisations need to be up-to-date to stay on top of financial crime compliance in their relevant sector. Our team’s decades of hard-won experience in big banks and FinTechs is your key to that knowledge.
460degrees will customise an approach to your unique vulnerabilities. Depending on your business size and needs, our experts can tailor an approach to suit you – from specific compliance training or a risk assessment, to program design and implementation.
460degrees will review your AML/CTF program with a forensic eye, providing a current business picture.
AML/CTF Programs are important to be reviewed independently of your business. This ensures an unbiased and compliant overview of both your AML Program and AML Strategy.
Our team’s complete compliance review identifies any gaps, inefficiencies or dated information in your Anti-Financial Crime strategy.
This assessment checks if you are progressing your long-term goals, if your data management is water-tight, and can match any recent organisational changes with what AUSTRAC and other regulators may require.
460degrees knows the AML Act inside-out, which gives us a broad view of current sanctions, Know Your Customer (KYC), OCDD profiling, and Transaction Monitoring Systems. Our team cuts the jargon and presents the review in an accessible format to ensure your entire workforce has a full understanding of the legislation.
A full AML/CTF program customised to your business is key to ensure you are compliant.
AML/CTF Programs protect your business, as well as chart what you’re doing to meet the regulatory requirements and why. Designated entities are obligated to have this program, which our experts are ready to review and write for your business.
With a newly created 460degrees Program Design in hand, we can also build and implement your major tech or workstream projects in-house.
Using an Agile delivery approach, we lead or work with your team to ensure the AML/CTF program rolls out with full compliance.
The cornerstone of approaching Anti-Financial Crime is a comprehensive assessment to identify and mitigate risk.
The 460degrees Risk Assessment method examines your business processes in relation to AML/CTF. Our team will spend time onsite with key stakeholders to gain a close understanding of your organisation.
Once the Risk Assessment process is complete, our team will produce a report – a dashboard with actions and recommendations for your team. This will help you to validate your actions as you follow through your ongoing compliance strategy.
A 460degrees risk assessment is an important step to evaluate your organisation’s safety and can be completed independently of other Anti-Financial Crime measures.
Our project delivery team helps organisations mitigate or remediate the effects of financial crime.
Assistance with the building and implementation of systems, controls or processes is often sought after by organisations that perhaps lack the resources or knowledge to do so themselves.
Whether a specific workstream or a complete Anti-Financial Crime package, the 460degrees team will lead or work alongside your organisation’s teams to deliver compliance projects.
This could involve implementing new technology, developing a different approach to transaction alerts, or integrating with other teams to embed your Anti-Financial Crime strategy.
Usually staged over 12-18 months, our Agile delivery methods help integrate the AML/CTF Act within every aspect of your business.
In order to face financial crime, your staff must be well trained in all relevant AUSTRAC obligations.
Designated entities are required to have a training program that educates staff on regulatory obligations.
Your business may require new accreditations, have new systems and applications to learn, or simply need a different approach to investigating a potential crime. Our team can customise a training program to help your staff to understand and meet these Anti-Financial Crime obligations.
The 460degrees team can also train staff in typology awareness training. This can help your team pick up certain red flag behaviours and educate them on what the escalation paths are to reporting. Depending on your location, we can work with your people on or offshore. We can also train the entire workforce in their specific area, whether customer-facing or back-end staff.
Our ongoing support allows your business to remain compliant and able to engage expertise when you need the latest industry changes.
If your organisation doesn’t have a dedicated compliance resource, every now and again you may require assistance from an expert team with SME experience and knowledge.
460degrees will help you identify any red flags, understand your rights and responsibilities, train staff, or simply check in with your strategic roadmap.
After establishing your Anti-Financial Crime strategy, the 460degrees team is there when you need it: full time, part-time, or on retainer.
Champions in their field
Our accomplished experts are committed to providing solutions. Get in touch with us to find out more