In a climate of heightened risk, alongside severe penalties and enforcement actions, the appointment of the Anti-Money Laundering Compliance Officer, with the right level of expertise and institutional support, is of pivotal importance.
Alongside severe penalties and enforcement actions for money laundering, terrorist financing and sanctions regime infractions, the role of the Anti-Money Laundering Compliance Officer ("AMLCO"), is becoming considerably more complex given the potential for immeasurable reputational damage. Funds and their fiduciaries should, therefore, be taking AML compliance extremely seriously and understand how critical the appointment of an AMLCO is.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.