AML Health Check
AML HealthCheck
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Is Your AML Program Really Working?
Making sure your Anti-Money Laundering (AML) program actually works takes more than just having policies and training in place. Even well-designed programs can have gaps or areas that need fine-tuning. ebs’s AML Health Check gives you a clear, independent look at how your compliance program is performing, helping you see what’s working and what could be improved.
Unlike a traditional audit, an AML health check is a collaborative, practical process focused on making your AML program stronger, not just pointing out problems. By looking at everything from policies and risk assessments to transaction monitoring and staff training, ebs provides actionable insights and guidance to help you strengthen your controls and operate with confidence.
What Is an AML Health Check?
A health check is a comprehensive diagnostic of your AML program. We review your policies, people, and technology to identify strengths, gaps, and areas for improvement. The process is constructive, designed to help you enhance your program, not just highlight issues.
When You Need a Health Check
- Before regulatory inspections – Stay ahead of potential issues.
- After business changes – Mergers, new products, or expansions can shift your risk profile.
- Periodic review – Annual checks are best practice.
- After compliance issues – Learn from incidents and improve.
- Peace of mind – Confirm your AML program is effective.
What We Examine
- Policy Framework: Coverage, clarity, compliance, updates
- Risk Assessment: Completeness, accuracy, integration
- Customer Due Diligence: KYC quality, risk profiling, enhanced due diligence
- Transaction Monitoring: Systems, alerts, escalation, false positive management
- Suspicious Activity Reporting: Identification, internal reporting, STR filings
- Training and Awareness: Staff competency, training frequency, effectiveness
- Governance and Oversight: MLRO, management involvement, board oversight
- Technology and Systems: Capabilities, integration, data quality, cybersecurity
- Record Keeping: Documentation, retention, accessibility, security
When You Need a Health Check
Planning & Scoping
Tailored to your priorities
Information Gathering
Review of policies, procedures, and sample transactions
Interviews
Understand how processes work in practice
Testing
Check if procedures are followed correctly
Analysis
Identify gaps and inefficiencies
Reporting
Detailed findings with severity ratings
Recommendations
Practical, actionable improvements
Remediation Support
Assistance implementing changes
Get The Best Assistance
Covering:
- Executive summary
- Detailed findings by area
- Gap analysis against regulatory requirements
- Risk assessment of identified issues
- Prioritized recommendations
- Remediation roadmap
For each finding:
- Critical: Immediate attention required
- High: Significant compliance risk
- Medium: Should be addressed soon
- Low: Minor improvements suggested
After your AML Health Check, you’ll have:
- Clear understanding of your compliance strengths and weaknesses
- Identified issues before regulators find them
- Prioritized action plan for improvements
- Evidence of proactive compliance management
- Confidence in your AML program’s effectiveness
FAQ’s
An AML Health Check is a collaborative, practical assessment focused on improving your anti-money laundering program. Unlike a formal audit that is regulatory and compliance-focused, a health check diagnoses your policies, processes, and controls to identify gaps and opportunities for strengthening your AML program.
It is best practice to conduct an AML Health Check at least annually. Additionally, you should consider it before regulatory inspections, after significant business changes (like mergers or new products), following compliance issues, or anytime you want to ensure your AML program is effective.
The health check reviews key AML program components including policy framework, risk assessment, customer due diligence (KYC), transaction monitoring, suspicious activity reporting, staff training, governance and oversight, technology and systems, and record keeping.
You will get a comprehensive report that includes an executive summary, detailed findings with risk ratings (Critical, High, Medium, Low), gap analysis, and prioritized, actionable recommendations along with a remediation roadmap.
Yes, ebs not only identifies issues but also provides practical guidance and support to help you implement improvements and strengthen your AML compliance program effectively.
