Compliance & Risk Assessment
Having the right controls in place to prevent, detect and report money laundering are not “nice-to-haves” – they are core to your reputation and ensuring ethical business practices - and they are the essential, legally mandated responsibilities of those in the financial and banking industries.
"Why would you invest in a company which is out of synch with the needs of society, that does not take its social compliance in its supply chain seriously, that does not think about the costs of externalities or of its negative impacts on society?"
Risk assessment is at the core of our Anti-Money Laundering (AML) and Banks Secrecy Act (BSA) services. No two institutions have the same risks. Your prepaid card application therefore needs to account for this in the products and services offered, the customers and clients you do business with, and the specific rules and regulations in your geographic location.
Axiom’s AML compliance team consists of experts in the legislative requirements of specific local and international locations. In the United States, our compliance programs are overseen by a BSA Officer. In the UK, that responsibility goes to a Money Laundering Reporting Officer (MLRO), who reports to the National Crime Agency.
Because of our extensive experience in the compliance and risk assessment arena, Axiom’s programs balance the administrative burdens of over-compliance with the legal jeopardy of under-compliance.
Our designated Principal Compliance Officer is responsible for overseeing broad implementation of each client's AML policies and procedures.