AML 30000 for Anti-Money Laundering (index 30000) is the international certification standard dedicated to anti- money laundering, terrorist financing and proliferation (AML / CFT).
AML 30000 is built on the standardization models and certification schemes provided for by the international regulations of management system certification. The standard is issued by a duly authorized third-party certification body.
AML 30000 standard specifications describe :
- All the AML / CFT measures that financial institutions (FIs) and some categories of non-financial businesses and professions (NFBPs), have to adopt and implement.
- The methodology followed to assess the level of technical compliance and effectiveness of the AML / CFT mesures adopted by said institutions, businesses and professions and their rating.
The AML 30000 standard certifies the technical compliance and effectiveness of measures to combat money laundering and the financing of terrorism (“AML / CFT”) adopted by financial institutions and some categories of non -financial businesses and professions, which play a crucial role in the detection and denunciation of suspicious behavior of their customers tending to launder money derived from criminal activities or to finance terrorism.
These institutions, businesses and professions play a crucial role in detecting and reporting the suspicious behavior of their customers tending to launder money derived from criminal activities or to finance terrorism.
The assessment covers :
- The technical compliance of AML / CFT measures adopted by FIs and EPNFs.
- The effectiveness (or efficiency) of said measures.
The technical compliance assessment consists of verifying the compliance of the measures adopted with the requirements recorded in the specifications.
The effectiveness assessment consists of verifying whether the measures adopted are actually implemented.
The final objective is that FIs and DNFBPs (a) satisfactorily implement preventive AML / CFT measures according to their risks and (b) report suspicious transactions. This provides assurance that the proceeds of predicate offenses and funds supporting terrorism cannot penetrate the aforementioned sectors or are identified and timely reported by these sectors.
1. Financial institutions that routinely carry out one or more of the following activities or transactions in the name of a client or on his behalf :
- Acceptance of deposits and other repayable funds from the public.
- Money or value transfer services.
- Issuance and management of means of payment (eg credit and debit cards, checks, travelers’ checks, money orders and bank draft, electronic money).
- Granting of guarantees and subscription of commitments
- Negotiation on :
- Money market instruments (checks, notes, certificates of deposit, derivatives, etc.)
- The foreign exchange market.
- Instruments on currencies, interest rates and indices.
- Commodity futures markets.
- Participation in securities issues and provision of related financial services.
- Individual and collective asset management.
- Custody and administration of securities, in cash or cash, on behalf of others.
- Other investment, administration or management of funds or money for the account of others.
- Underwriting and placement of life insurance and other insurance-related investment products.
- Manual change.
2. Certain non-financial businesses and professions, including the following :
- Casinos – when customers conduct financial transactions equal to or above the applicable designated threshold.
- Real estate agents – when they are involved in transactions for their clients concerning the purchase or sale of real estate.
- Dealers in Precious Metals and Dealers in Gemstones – when conducting a cash transaction with a client at or above the applicable designated threshold.
- Lawyers, notaries, other independent legal professions and accountants when preparing or carrying out transactions for their clients relating to the following activities :
- Purchase and sale of real estate.
- Management of client capital, securities or other assets.
- Management of bank accounts, savings or securities.
- Organization of contributions for the creation, operation or management of companies.
- Creation, operation or administration of legal persons or legal arrangements, and purchase and sale of commercial entities.
- Providers of services to trusts and companies when they prepare or carry out transactions for a client in connection with the following activities :
- They act as agent for the constitution of legal persons.
- They act (or they take measures to ensure that another person acts) as a manager or secretary general (Secretary) of a capital company, partner of a partnership or holder of a similar function for other types of legal persons.
- They provide a registered office, a commercial address or premises, an administrative or postal address to a capital company, a partnership or any other legal person or legal arrangement.
- They act (or they take steps to have another person act) as trustee of an express trust or perform an equivalent function for another form of legal arrangement.
- They are acting (or taking steps to have someone else act) as a shareholder acting on behalf of another person.
Entering a certification process to AML 30000® standard allows to :
- Promote and consolidate among those assessed persons, the awareness of the importance of issues related to money laundering and terrorist financing at the level of the assessed persons themselves, at the level of the sector of activity and at the scale of the economy of the country, as well as the importance of the risks incurred in the event of failure to implement concrete and effective measures (risks of abuse, risks of reputation, commercial risks, financial risks, litigation risks, etc.).
- Join the AML / CFT efforts of the host country and the international community.
- Promote and consolidate the AML / CFT culture.
- Ensure the compliance and effectiveness of the AML / CFT measures adopted.
In summary, there are two kinds of interests :
Business expertise :
- Optimize the AML / CFT systems, by identifying deficiencies and anticipating possible malfunctions.
- Issuing alerts, accompanied by recommendations to remedy them, constitutes a constructive and concrete approach to improvement.
- Advance good practices in AML / CFT governance.
- Perpetuate within the company, an information system as well as relevant and effective procedures.
Communication vector :
- From an external point of view, certification, as a vector of communication, is a reliable and concrete argument that reflects the compliance of a system with a set of requirements.
- An AML / CFT certification is a commitment and a strong initiative.
- The use of conformity marks is an indicator contributing directly to the process of valuing and improving the attractiveness of a company, by reinforcing the market considerations linked to integrity and transparency.
Presidency of the AML Collective
Isabelle Schoonwater is a graduate of the University of Paris 1 Panthéon Sorbonne. She is a magistrate of the judicial order, promotion 1987 of the National School of Magistracy. She has held positions mainly in criminal matters, as a magistrate of the public prosecutor’s office as of the seat, mainly in Paris.
She was notably an examining magistrate at the Paris Financial Center, then Advisor to the Paris Court of Appeal in the chambers dedicated to organized crime and terrorism.
She was seconded to the Ministry of Finance within the management of the French Financial Intelligence Unit, TRACFIN, where only magistrate she was, in particular and in particular, in charge of the international department, then was recruited by the World Bank, within the unit dedicated to the fight against money laundering and terrorist financing in Washington (Senior Financial Sector Specialist) (FPDFI, Financial and Private Sector Development Branch).