Guided ML/TF risk assessments, AML Policies and AML Procedures designed for small, low complexity Australian Accountants, Lawyers, Real Estate Professionals and other Tranche 2 businesses.
Arctic Kickstart was developed by Arctic Intelligence as an AUSTRAC-aligned AML/CTF Program development solution designed for eligible small Australian businesses with fewer than 15 employees to quickly understand and document their designated services, their money laundering, terrorism and proliferation financing risks and AML Policy.
If you have this information available, the estimated time to complete is less than 30 minutes.
You'll be guided through an eight-step process:
If your business doesn't meet the AUSTRAC Program Starter Kit criteria, or needs a more comprehensive approach, Arctic Intelligence has purpose-built platforms:
Cost-effective, cloud-based guided risk assessment solution for small and medium-sized regulated businesses.
Fully configurable financial crime risk management platform for mid-size to enterprise businesses.
Disclaimer
The following process is designed for small, low complexity businesses and should be considered a starting point only. Every business is different and faces different ML/TF risk exposures and the intention is to provide a basic level of understanding to smaller businesses that have never been subject to AML/CTF laws before.
Businesses operate in a dynamic environment of constantly evolving internal and external changes and as a result your business may become ineligible to use AUSTRAC Program Starter Kits or over time will need to evolve your ML/TF risk assessment (particularly the controls you've implemented to mitigate and manage these); the AML Policy and AML Operating Procedures so that these controls become an embedded part of how you conduct your business.
For smaller businesses that either want to be guided through the process to establish a more in-depth understanding of their ML/TF risks and the mitigating controls required to be documented in the AML Policy, with corresponding AML Procedures to operationalise them into practice may want to consider more advanced solutions, like the AML Accelerate Platform to help you meet your evolving AML/CTF obligations.