AML for Clients Overview
The LegalOffice AML module is designed to complement a firm’s existing Anti-Money Laundering (AML) programme, offering numerous advantages.
This module enables the creation of a digital record of the due diligence (DD) process, allowing firms to manage each client individually while maintaining a comprehensive audit trail of compliance. Additionally, transaction activity can be restricted or limited based on a client’s AML status.
Key features of the LegalOffice AML client module include:
- Client risk assessment
- Standard due diligence
- Enhanced due diligence
- Exempt due diligence
- Delayed due diligence
- Digital identity verification records
AML Procedures for New Clients
The process for onboarding new clients includes the following steps:
- Complete the Client Risk Assessment
- Complete Client Due Diligence