Independent AML Audit
Professional Financial Advisory Services
The legal and regulatory environment for Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) is rapidly changing. For financial institutions and enterprises, navigating this complex situation is far more than just meeting basic requirements. Appointing a reputable external consultant to conduct an independent AML/CFT audit can provide an objective and impartial assessment of the effectiveness of your strategies, policies, and internal controls.
Typical scenarios for such independent audits include, but are not limited to:
Bank account opening – meeting the bank's due diligence requirements
Internal control optimization – identifying deficiencies and room for improvement
Regulatory authority requirements – responding to inquiries or regulations from authorities
Business cooperation – establishing partnerships with institutional partners
Our Target Clients
We provide professional compliance support services specifically for the following financial institutions and enterprises:
Business types include:
Securities Dealers
Futures Dealers
Foreign Exchange Dealers
Corporate Finance Institutions
Asset Management Companies
Family Offices / External Asset Managers
Virtual Asset Service Providers
Institutions similar to Money Service Operators
Institutions similar to Money Lenders
Insurance Companies and Insurance Agents/Brokers
Trust Companies
Trust or Company Service Providers (TCSP)
Dealers in Precious Metals and Stones (DPMS)
Other Financial Institutions
Other Designated Non-Financial Businesses and Professions (DNFBPs)
What Altum Capital Can Do for You
Analyze the gap between current practices and AML/CFT policies, procedures, and internal control requirements
Develop comprehensive AML/CFT policy, procedure, and internal control documents
Provide compliance training courses
Compile independent AML/CFT audit reports
Includes free name screening credits (www.edon.asia)
Arrange for a practicing accountant to sign reports (value-added service)
Timeline
The scope of work includes conducting gap analysis, covering the review of the following records: client account opening records, KYC records, screening records, risk assessment records, ongoing monitoring records, transaction records, suspicious transaction report records, staff training records, and other AML-related records.
After completing the review, we will meet with the client to discuss the results and draft the audit report. The entire process takes several weeks to several months, depending on the complexity and scope of the audit work.
External References
SFC - Supervisory Actions: https://www.sfc.hk/en/Regulatory-functions/Intermediaries/Supervision/Supervisory-actions
Disclaimer
The information on this page is summarized from public materials (including the official website of the SFC (www.sfc.hk)) and is for general information and educational purposes only. This content does not constitute any legal or professional advice and should not be acted upon as such. The views and summaries expressed herein are the personal views of Altum Capital Consulting Limited and do not represent the official position of the SFC or any other regulatory authority. If you need legal advice on specific situations, please consult a qualified legal professional.
The AML/CFT legal regulatory environment is rapidly changing. For financial institutions and enterprises, navigating this complexity is far more than just meeting basic requirements. Appointing a reputable external consultant for an independent AML/CFT audit can provide an objective assessment of the effectiveness of your strategies, policies, and internal controls.
Such independent audits are widely applied, including but not limited to:
Bank account opening – meeting due diligence requirements
Internal control optimization – identifying gaps and improvement areas
Regulatory requirements – responding to authorities
Business cooperation – establishing institutional partnerships