Building an AML Vocabulary
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Building an AML Vocabulary

It is a common misconception that the AML process is over once you have conducted due diligence on a client. However, due diligence is an ongoing story - one that happens in the background throughout your whole relationship. 

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It is a common misconception that the AML process is over once you have conducted due diligence on a client - however this is not the case. Due Diligence is an ongoing story, one that happens in the background throughout your whole relationship. 

This is supported by periodic checking. In the article below we will cover what this means and how to do so discreetly - with your client in mind. 

What is Periodic Checking?

Periodic checking is an automated process of checking client information. It is about consistency, and your ongoing relationship between you and your client. By keeping track of your relationships, you can ensure that if an irregularity pops up, you are aware and can investigate further. 

This is especially important when working with higher risk clients such as PEPs. [For more information on PEPs read our article Working With PEPs, What I Need to Consider].

How Does it Work?

In Arcarta you have the option to enable periodic checking. Based on the amount of risk assigned to each client, you can choose at what interval you wish to run a check in the background.

Based on the options you select, all positive, negative and additional checks will be refreshed and you will be notified of any updates via email.

If information has changed, you can then assess how to move forward. 

If you need further support on how to conduct due diligence, you can read our article Building an AML Vocabulary, a Risk Based Approach or get in touch with a member of our team. 

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