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AML Workflows — compliance officer update

Content updates

The module Responsibilities of the AML/CFT Compliance Officer in Anti-Money Laundering Workflows has been reviewed and updated by author Gary Hughes.

All steps in the module have been updated:

  • [CO1] Step 1. Understanding what the law requires and what best practice suggests
  • [CO2] Step 2. Selecting the AMLCO — role dimensions and the skill set required
  • [CO3] Step 3. Selecting the AMLCO — eligibility and suitability/capacity
  • [CO4] Step 4. Selecting the AMLCO — other possibilities
  • [CO5] Step 5. Understand the full scope of the AMLCO’s responsibilities and role
  • [CO6] Step 6. Vetting/training the AMLCO, and getting them up and running
  • [CO7] Step 7. Reporting to senior management, and governance within the firm
  • [CO8] Step 8. Support from senior management, accountability and liability
  • [CO9] Step 9. A note to the AMLCO

Among other things, the update refers to the following insofar as they relate to AMLCOs:

For further information, see Gary Hughes Anti-Money Laundering Workflows (online ed, Thomson Reuters) on Westlaw New Zealand.


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