Ongoing monitoring is an essential part of an effective anti-money laundering programme. Regulations are constantly changing, clients’ circumstances are evolving and the ramifications of making a mistake are getting increasingly high. Ongoing monitoring is required to determine whether a customer continues to match the risk profile assigned to them at onboarding.
It’s essential to stay on top of compliance requirements to avoid exposure to financial crime and penalties. We have created a comprehensive guide to ongoing monitoring, including some tips for law firms.
Our AML onboarding solution
Omnitrack, VinciWorks’ AML client onboarding solution, facilitates a seamless onboarding experience for organisations of all sizes. Time-based automations allow admins to fully automate the ongoing monitoring process. A client or matter file can easily be set to ‘re-open’ after a period of time, depending on the risk level assigned to the client or matter, ensuring that no client or matter is left without periodic review.
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