AML/CFT Roadshow Videos

In July 2018 the DIA put on a roadshow for Accountants interested in the new AML/CFT legislation and how it applies to them. 

While this was aimed particularly at helping firms manage their own obligations, it is also helpful to get an overview from an audit perspective. 

Watch the full video below:

 

There are three speakers, the first in particular (first 40 minutes) is most interesting as she works for the FIU (Financial Intelligence Unit) and talks about what happens on the receiving end of goAML reports.

She talks about four reports (suspicious activities, suspicious transactions, prescribed transactions for domestic cash and prescribed transactions for international funds transfer). This is a little confusing as the legislation includes suspicious transactions in with suspicious activities.

To clarify, our AML/CFT testing template refers to suspicious activities (including suspicious transactions) and prescribed transactions (which includes both the domestic cash $10,000 limit and the overseas transfer $1000 limit). 

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