Our existing Money Laundering systems are a mix and match of manual systems. It needs an overhaul. I’m sure that IT could help. Ideally we’re after a system that will allow us to do the following:
(a) Staff training: – the MLRO enters details of every member of staff, the system keeps records of who had training and when, and who needs an annual refresher. Ideally the system would provide the training itself, perhaps in the form of text and multiple choice questions. Various levels of training would be necessary eg new staff, existing staff refreshers etc.
(b)Due diligence – details of all clients, existing and new, are entered onto the system. The system then undertakes online due diligence. The system automatically carries out annual re-checks as necessary.
(c)SOCA reporting – staff prepare reports for the MLRO on the system, the MLRO calls these up in screen then decides which to pass to SOCA and which not – recording the reasons why.
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Anti Money Laundering Compliance Plus software
We are about to release a brand new product, Anti Money Laundering Compliance Plus, which addresses all of the areas you're looking for, and more.
Our objective was to develop a simple to use and cost effective piece of software that provided a complete solution to anti money laundering compliance.
The first thing we did was to forge a relationship with a leading provider of UK Money Laundering Compliance expertise, SWAT UK Limited, in order for them ensure that the software achieved all the objectives and to provide the expert help etc. within the software.
We then set about writing the software in order to achieve all of the objectives and, like our PC Share Register Plus software, was intuitive and easy to learn and use. The result is our new ground-breaking AML compliance software, Anti Money Laundering Compliance Plus.
The software manages to achieve all of the requirements of firms that we consulted.
Extremely cost effectiveIntuitive to useProvides useful help/wizards to assist with complianceIncludes assessment of "Risk"Determines what supporting ID is required for each entity and their associated individualsAllows the MLRO easily to identify, at an early stage, matters that require attention, thus avoiding non-compliance of AML regulationsIdentifies areas of non-compliance so that these can be remediedIncludes an Integrated document management system allowing importing of existing documents held and also the scanning of paper supporting documents from scratchFully integrated Electronic ID Checking at a very competitive cost - see Electronic ID CheckInbuilt free Companies House check of company dataIncludes comprehensive help on use of the software and technical help on Money Laundering complianceFull integration with PC Share Register PlusEasy import of client records from other software via generic CSV filesBe sure that you are complying with money laundering regulations
For more information, and to download a 'beta' version of the software prior to its official release, see our website at www.amlcplus.co.uk
-- Ian Burgess BHIS Ltd. The home of PC Share Register Plus, Company Secretarial Software www.bhis.co.uk
Anti Money Laundering Compliance Software
Further to my previous post, the "Anti Money Laundering Compliance Plus" software will go on general release on Monday 8th November 2010 - see www.amlcplus.co.uk for details.
Ian Burgess
BHIS Ltd.
www.bhis.co.uk
Checkout AMLCC
Do take the time to checkout the Anti-Money Laundering Compliance Company offering.
I know the name is a "mouthfull" but the product does everything that is required to keep a practice compliant and at a price that remarkable value for money.
It is fully accredited by the ICPA and ICPA members receive a special discounted price.
Tony Margaritelli - Chair ICPA