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/CTF 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 counter-ter-
rorism financing 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 stan-
dard and applicable management system certification regulations,
incorporating the principles of competence, consistency, impartia-
lity, and independence, as defined below.

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

Consistency: evaluation schemes are established with objective reaso-
ning and structured according to a pragmatic approach.
Impartiality: evaluation procedures are strictly regulated and standar-
dized internationally by industry sector.

Independence: evaluations are conducted by an independent third
party holding an authorized certifier status to perform AML/CTF
assessments.