WEBINAR | Mastering AML: AML audits 2.0

AML audit plays an important role in evaluating the internal control and risk management system of the obliged entity. The need for AML audits is rapidly growing not only for internal use (e.g. assistance in detecting flaws in AML procedures which can be unnoticed while performing daily routine tasks) but also for external use (e.g. AML audit reports are requested by correspondent banks or other business partners, supervisory authorities, etc.).

Continuous AML audits and relevant auditing programmes show the maturity and credibility of a financial market participant. It is of the utmost importance to understand the AML audit practice and general requirements applicable to such an audit before planning it. The importance of AML compliance is particularly relevant as the recent cases and fines applied by the regulators for non-compliance with AML requirements prove that regulators do not tolerate AML non-compliance. In this webinar, we have gathered experienced AML and internal audit experts to share their experience and knowledge on the subject matters.

The following topics were addressed during the webinar:

Introduction to AML audit from a legal perspective
Aurelija Balčiūnė, Managing Associate at COBALT Lithuania

AML Audit: burden or opportunity?
Andrius Merkelis, Head of AML working group at FINTECH HUB LT / Head of AML/MLRO at mano.bankas

Internal audit department establishement and first year challanges
Karolis Grikšas, Internal Auditor at Wallter

Pros and cons of de-risking in industry wide and obliged entity perspective
Edgars Pastars, Specialist Counsel at COBALT Latvia, CAMS