Unlocking AML Compliance

WhiteLight AML provides your business with gold standard AML/CTF compliance, at the right cost and with minimal impact on how you do business with your customers.

AML/CTF COMPLIANCE SET-UP

Our highly experienced AML/CTF advisory team have been working with real estate agents, accounting, law firms and other professionals for years, carrying out the required risk assessments and tailored AML/CTF Program and policies development quickly and efficiently. We provide your AMLCO, Board and staff with training so you can maintain a culture of AML/CTF compliance in your business. Access to all AML/CTF Program documentation and staff training can be accessed at any time by logging in to your Whitelight AML Control Centre.

AML/CTF DAY TO DAY OPERATION

WhiteLight AML’s AML as a Service (AMLaaS) provides a seamless and efficient way for businesses to outsource their AML compliance day to day operations. Our centralised financial crime operations team, staffed with experienced AML analysts, handles all day-to-day tasks, including customer due diligence (KYC), enhanced due diligence (ECDD), transaction monitoring and regulatory reporting. We leverage economies of scale and best-in-class technology to deliver fast, accurate and cost-effective compliance support.

Know Your Customer: With your AML/CTF Program in place and your staff trained, it's time to start performing KYC on your new customers which includes verification of their identity (IDV) and screening them against Politically Exposed Persons (PEP), sanction and adverse media lists.

To comply with AML/CTF legislation, you'll need to perform Identity Verification to formally verify your customer's identity. Whitelight AML uses a very simple, convenient and fast process process to perform and record IDV, where an email and/or SMS with a link to a form is sent to your client asking them to upload an image of their identity documentation (eg driver's license). This process has been used for many years, it's fast and convenient for your customer.

Beneficial Owners and Source Of Wealth: Our AML platform swiftly uncovers the directors and ultimate beneficial owners linked to your client's ownership networks. By outsourcing the collection of crucial documents, including trust deeds and confidential information about the origins of wealth or funds to WhiteLight AML's experienced team, the process becomes both less invasive and more streamlined. This approach not only boosts compliance but also reduces your burden of AML obligations.

Ongoing Due Diligence (ODD): Whitelight AML continuously monitors your customers against lists of Politically Exposed Persons (PEP), sanctioned individuals and entities and adverse media. Customer's who pose a higher risk of financial crime are risk rated and we help you manage the ongoing monitoring of those customers.

Reporting: From time to time there will be a need to provide AUSTRAC with information relating to a range of AML/CTF issues including suspicious customer behaviour which may indicate financial crime and require a Suspicious Matter Report (SMR). Whitelight AML provides you with the functionality and expert help to make sure your business delivers on its AML/CTF reporting obligations.

Advice: Whitelight AML's financial crime staff are on hand to provide you and your business with help to make sure your business continuously complies with AML/CTF legislation.

With locations in Sydney, Melbourne, and Brisbane, we are well-equipped to provide immediate assistance with our skilled and experienced team.

For more information, please call 1800 577 119 or email tomas.jordan@whitelightaml.com.au