Video on Effective Implementation of an AML Program by IFSC Entities

As per the IFSCA guidelines, 2022, the IFSC’s regulated entities must develop and implement a robust AML program. This program should aim to detect and report suspicious transactions related to ML/FT risks.

The video provides the complete guidance that how an IFSC entity can create and implement the AML program that aligns with the IFSCA AML Guidelines.

The video starts with discussing that IFSCA entities must adopt a risk-based approach and what are factors to consider.

The next step is to develop AML policies, procedures, and controls that govern the various AML/CFT activities. We also discussed:

How to leverage technology and solutions
Importance of thorough AML training for frontline staff and management
Why to continuously review AML program and make amendments

By following the AML program creation roadmap in the video, you can mitigate AML/CFT risks and ensure compliance.

Chapters:

0:00 Introduction on Approach to Effective Implementation of an AML Program by IFSC Entities
0:35 What is Wide Risk Assessment and state its factors?
1:18 What are the guidelines included in AML Policy?
2:27 Why identifying and deploying the right AML Solution is necessary?
2:59 What is imparting of AML Training?
3:13 Why periodic review and audit of the AML Program is necessary?
3:57 What is AML program roadmap?
4:15 Conclusion and regards

Decoding AML Program Implementation In IFSC Entities

Related Infographics

Stepwise Process For Effective Implementation Of An AML Program In IFSC Entities

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Video on Effective Implementation of an AML Program by IFSC Entities