Compliance visit tests: Checking compliance under the Risk Based Approach: ASPs, EABs and TCSPs
For ASPs, EABs and TCSPs the basic requirements for effective AML controls are:
- compliance with risk assessment, policies, controls and procedures requirements
- compliance with the minimum legal requirements for customer due diligence
- the ability to recognise higher-risk situations and respond with additional measures to mitigate the increased risk
- identify and report suspicious activity to NCA.