Page 5 - AML 30001 - The Standard dedicated to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

GUIDELINES

OF THE AML 30001® STANDARD

The specifications cover, in particular, the following aspects:

•-Asset freezing
•-Ongoing monitoring
•-Duty of due diligence
•-Compliance program
•-Capacity building
•-Record-keeping
•-Reporting of suspicious transactions
•-Internal anti-corruption measures
•-Quality and effectiveness of adopted IT solutions
•-Responsibilities of senior management and the governance system
•-Implementation of a risk-based approach to AML/CFT risk mapping
•-Measures related to specific risks:
-->-Internal controls and foreign branches and subsidiaries
-->-Politically exposed persons (PEPs)
-->-Higher-risk third countries
-->-Non-Profit Organizations (NPOs)
-->-Correspondent banking relationships
-->-Third parties and business introducers
-->-Electronic transfers
-->-New technologies

EVALUATION PRINCIPLES

The certification in terms of anti-money laundering and countering
the financing of terrorism is based on an approach that ensures
fairness, objectivity, and integrity throughout the evaluation
process. This process is conducted in strict compliance with the
ISO 17021® standard and applicable management system
certification regulations, incorporating the principles of
competence, consistency, impartiality, and independence, as
defined below.

Competence: evaluators are selected based on their expertise and
experience in AML/CFT matters.

Consistency: evaluation schemes are established with objective
reasoning and structured according to a pragmatic approach.

Impartiality: evaluation procedures are strictly regulated and
standardized internationally by industry sector.
Independence: evaluations are conducted by an independent third
party holding an authorized certifier status to perform AML/CFT
assessments.