Money laundering prevention (AML compliance) poses major challenges for obligated parties and is also dynamic in its development. A good example is a risk analysis. It is the foundation of risk management and thus of all measures that a company must take to prevent money laundering.
At the same time, it is highly dependent on external and internal influences, for example when laws, products, customer structures or other risk factors change. Then again, the foundation "risk analysis" loses its relevance and risk management becomes unstable. Use the support of Kerberos and always keep your risk management up to date.
All-in-one solution
Benefit from one provider for all aspects of your risk management system for the prevention of money laundering and terrorist financing.
Professional risk analysis
Support in the preparation and annual updating of your legally compliant risk analysis by compliance experts.
Risk management system
We equip you with guidelines, work instructions, money laundering typologies as well as internal control plans.
Employee training
Upon successful completion of our industry-specific money laundering training, you and your employees will receive a certificate to prove your level of training.
Scalable subscription solutions
Benefit from a sustainable and secure risk management system as a subscription solution with annually recurring services for companies of all sizes.
Risk analysis
The basis of your risk management.
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We support you in the preparation and annual updating of your risk analysis. Our experts analyse all risk factors relevant to money laundering on the basis of your data and classify them for you. In addition, we are happy to provide you with all relevant preventive measures through instructions, templates, typologies, training, seminars and much more. You can rely on our years of cross-sector experience. Your compliance will find a reliable partner in us.
- Support in the creation & updating of risk analyses
- Derivation & implementation of preventive measures
- Industry-specific employee training with certificate of completion
Your safety through our experts
Secure the right support
Setup
Setting up your risk management incl. instructions for or direct entry in the transparency register
Support
Review & update your risk management incl. employee trainings
Outsourcing
Reliability checks of your employees when appointing a money laundering reporting officer
Setup
- Appointment of a person responsible at management level
- Support with registering / updating your company's entry in the transparency register
- Preparing the Risk Analysis
- Creating a Anti-Money Laundering Directive
- Creating instructions & operating procedures (identification and reporting of money laundering typologies)
- Establishing Internal Control Plans
The services may differ from this listing depending on the subscription chosen.
Support
- Reviewing and updating the Risk Analysis
- Conducting AML training
- Industry-specific for: Gambling, Real Estate, Liberal Professions, Traders in goods (generic, motor vehicles, precious metals, jewellery and precious metals), Financial trade, Insurance, others business secotrs on request.
- Adaptation of the learning environment and course content to your corporate design possible at extra cost
The services may differ from this listing depending on the subscription chosen.
Outsourcing
If a money laundering reporting officer is appointed by Kerberos, we additionally take over:
- Preparation, implementation and documentation of internal control plans
- Spot-Checking Employee Reliability (incl. guidelines)
Employee training
With the Kerberos Academy as e-learning
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Receipt of completion certificates
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Automatic reminder when certificate expires
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Sector-specific contents
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Regular updates according to current money laundering typologies
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Guidance on recognising money laundering in everyday working life
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Interactive course layout
Tolga Orcun, M.Sc.
managing director at Wallfeld Anlageimmobilien
"The e-learnings from Kerberos offer us the opportunity to train our employees flexibly, cost-effectively and in an audit-proof manner in the areas of money laundering prevention and data protection. The appealing design ensures a high level of attention and the learning success checks enable immediate application of what has been learned."
Get started with your money laundering compliance now - contact us
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Useful knowledge for your risk management
Who needs a risk analysis?
All obligated parties under the Money Laundering Act must prepare a risk analysis. It must also be ensured that the risk analysis is documented in an audit-proof manner and reviewed regularly (at least once a year) and updated if necessary. The current version of the risk analysis must be made available to the supervisory authorities upon request.
Where can I find a template / sample for a risk analysis?
Risk analyses are in any case highly individual documents for which there are no templates or samples. The Money Laundering Act Annexes 1 and 2 contain lists of possible risk factors to be considered, but even these lists are not "exhaustive", i.e. complete. The reason for this is the myriad of risks that may apply to obligated parties depending on their industry, business activity, customer structure, location, etc. Instead of templates, instructions can help. Kerberos provides you with a white paper on the subject of risk analyses (German only).
What does a risk analysis include?
A risk analysis includes an inventory of all relevant company-related data, an analysis of important sources, the recording and identification of risks to your company, a risk assessment and the derivation of recommendations for action.
The following risk factors should also be examined for a risk analysis (list not exhaustive):
- Customer risk
- Product risk
- Service risk
- Transaction risk
- Channel risk
- Geographical risk (establishment, registration, residence)
What are the components of a risk management system for the prevention of money laundering?
Within the framework of risk management, first of all a responsible person must be appointed at management level who approves all further measures - such as risk analysis or internal security measures. The appointment itself must be documented and can be audited by the authorities, just like any other component of risk management.
Following this, you must prepare a risk analysis, which must be approved by the responsible person at management level. It is the core element of the risk-based approach to money laundering prevention. The risk analysis must be reviewed and updated at regular intervals.
To ensure that the results of the risk analysis can be incorporated into your day-to-day business, we recommend that you draw up a policy on money laundering prevention which, as an "internal safeguard", helps to clarify the actions of all employees and minimises the risk of money laundering. This overarching guideline can then be supplemented by work instructions that can be used for the practical implementation of all measures in the daily business of your employees.
In addition, employees should also be trained at regular intervals on money laundering prevention. For this purpose, Kerberos provides the "Kerberos Academy", through which practical and industry-specific courses for employees impart the necessary knowledge and test it. After successfully passing the tests, you receive a certificate of completion that you can present to the authorities as proof of the training level of your employees.
What is taught in employee training courses?
The interactive and multimedia employee trainings are industry-specific. In the approx. 1-hour training sessions, you will learn about the influence money laundering has on your industry, how money laundering works in general and which industry-specific cases of money laundering are known. You will also learn about your most important obligations under the Money Laundering Act and how to implement them in your daily work. Furthermore, the courses also prepare you for dealing with and behaving correctly during inspections by the authorities.
After successful completion of a course, you will receive a certificate of completion that you can show as proof of your training level for examinations by the authorities.
How can internal control plans help to evaluate one's own safeguards?
You are legally obliged to regularly review the effectiveness of your risk management. Based on the individual risk situation of your company, we at Kerberos can draw up audit procedures, which we also carry out and document ourselves in the case of an anti-money laundering reporting officer appointment. For obligated groups of credit and financial services institutions, this also includes audit procedures regarding other punishable acts according to §25h KWG.
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