The Advantage of AML Experts
Fixed Price for Service
We don’t believe in hourly or daily rates. We provide you with added value and comprehensive service with our fixed fee for service.
We will meet with you and scope the work required. Payment terms – usually project milestones – are agreed and guaranteed. Any changes to the scope of work during the project will be authorised by you through a Variation Order.
Service Guarantee
At AML Experts we have the kind of customer-focused service you might not be used to from lawyers or consultants.
Our written guarantee ensures that if you’re not completely satisfied with our service, we will either refund the fee, or accept only a portion of the fee that reflects your level of satisfaction.
Ethical Practice
We’re not here to provide only legal advice. Our focus is a professional service that satisfies your pressing and critical need. Our code of legal and business ethics ensures:
- your business dealings with us remain confidential
- the service we provide is of the highest professional standard
- there is no conflict of interest
- we follow all legal and business ethical norms
AML Experts - Open Markets Case Study
How We Can Help You
Ensuring that your organisation meets its AML obligations is fundamental to it keeping its reputation. We understand how difficult that can be in today’s complex business and regulatory environment.
We deliver high quality consulting and legal advice to our clients at a fixed price. We understand your desire to have an AML expert assisting you who can provide both consulting advice on the implementation of your AML Program etc., and legal advice on your AML Act obligations. Our integrated, multi-disciplinary team approach affords you a “one stop” solution to help you lower your organisation’s AML legal and compliance risks.
Our consulting services include:
- Assisting you understand your organisation’s money laundering and financing of terrorism risks and vulnerabilities;
- Assisting with the design and undertaking ML/TF Risk Assessments
- Design and implementation of AML/CTF Programs
- Design of AML Program governance frameworks
- AML training delivery
- Transaction Monitoring Program rules and settings
- Post merger AML/CTF Program integration
- Remediation
Our review and audit services include:
- AML Program Independent Reviews under Rule 8.6 or Rule 9.6;
- Part B - Customer Identification Procedures audits
- Targeted AML Program audits
- Know your customer testing
- External Auditor appointments under Section 162 of the AML Act
Our legal services include:
- Advice on AML obligations
- Responding with AUSTRAC investigations
- Responding to AUSTRAC enquires
- Remediation
We work across many sectors of including: ADIs, credit unions, financial services, corporate bookmakers, online stockbrokers, international and national money exchange businesses / remittance, agribusiness, lawyers, and accountants.
Our team includes Australian legal practitioners, highly experienced AML Program auditors / reviewers, and AML compliance consultants.
An Incorporated Legal Practice registered with the Victorian Legal Services Board and Commission.
Liability limited by a scheme approved under Professional Standards Legislation.
OpenMarkets was investigating a business opportunity with a commercial supplier. The opportunity had a “Know Your Customer” element to it. To ensure that the opportunity was taken we engaged Paddy Oliver to assist us carry out a KYC Gap Analysis. The results of the KYC Gap Analysis allows us to satisfy the supplier’s requirements, improve our KYC processes, and ensure that we meet our KYC obligations under the AML/CTF Act.
Working with Paddy helped me to learn more about how our AML/CTF Compliance Framework should operate, and about AML/CTF obligations in general. Paddy’s advice was pragmatic and tailored towards our business needs. Also, all the work was carried out on time and on budget under a fixed price contract.
If you require assistance with your AML/CTF Program do not hesitate to contact Paddy.
Andrea Marani
Chief Operation Officer
OpenMarkets