Reduce AML risks and save time with the use of technology

Managing AML risks is crucial for accountants and bookkeepers, as non-compliance can lead to serious consequences. Increased regulatory scrutiny due to global events has resulted in tougher sanctions and record fines. Compliance requires firm-wide risk assessments, strong policies, and proper documentation.

Using technology like BrightManager and BrightPropose helps streamline AML processes by automating compliance tasks, ID verification, and client risk assessments.

• Maintain all AML documentation efficiently.
• Automate ID checks and risk assessments.
• Set reminders for periodic client reviews.
• Charge onboarding fees for AML-related work.
• Ensure updated compliance with evolving regulations.

AML is an ongoing process that extends beyond new clients. With the right tools, firms can save time, reduce risks, and focus on valuable work.