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Reviews must be conducted to comply with legislation

Significant amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act came into effect in 2008. These included the requirement for reporting entities to conduct an independent review of their compliance policies and procedures, risk assessments and training programs at least every two years.

Since two years have passed, organizations mainly in the financial services sector should now comply with the new rules and take action to make sure a review has been conducted within the prescribed timeframe. Read this publication to find out what a review should entail and how PricewaterhouseCoopers can help your organization become compliant.