Strengthen Your AML/CFT Audit Framework with Confidence
Why AML/CFT Audit Excellence Matters?
On 21 October 2024, the Monetary Authority of Singapore (MAS) released a key circular emphasizing the need for a strong and independent audit function to assess the effectiveness of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures.
At Pecuniya, we help Financial Institutions (FIs) translate regulatory expectations into strategic, practical actions — empowering you to stay compliant, resilient, and audit-ready.
What are the key areas to strengthen your AML/CFT audit?
- Build Deep Audit Expertise : Equip your audit teams with advanced technical knowledge of AML/CFT regulations. Engage qualified external specialists for objective, independent evaluations of your controls and governance frameworks.
- Prioritize Based on Risk Exposure : Tailor audit activities to your business model and risk profile. High-risk areas demand focused audit attention to bolster control effectiveness and regulatory readiness.
- Conduct Regular Risk Assessments : Stay aligned with evolving internal and external changes through timely risk reviews. Factor in business strategy shifts, customer demographics, and regulatory updates to keep your risk profile accurate.
- Leverage Data Analytics : Go beyond traditional audit methods. Harness data analytics to detect hidden transaction anomalies, improve insights, and strengthen your overall audit outcomes.
- Refer to Industry Best Practices : The Anti-Money Laundering Audit Peer Group Best Practice Paper (21 October 2024) offers crucial guidance—relevant not only for banks but also asset managers, broker-dealers, and fintech platforms.
How Pecuniya helps you excel?
At Pecuniya, we specialize in enhancing AML/CFT compliance with customized, audit-ready solutions:
- Fully outsourced AML/CFT audit support tailored to your institution’s unique risk profile
- Development of audit plans fully aligned with MAS expectations
- Strategic sampling and review of high-risk areas
- Senior compliance consultants integrated into your audit process
- Actionable recommendations to close compliance gaps and strengthen controls
What makes Pecuniya your trusted partner?
- Expertise rooted in Singapore’s evolving regulatory environment
- Trusted by financial institutions across sectors
- Agile, technology-driven compliance solutions
- Senior-level involvement throughout your audit journey
Join the institutions that trust Pecuniya to keep them resilient and compliant.
Stay ahead with expert insights from leading audit and compliance professionals.
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