Balancing AML Compliance With Business Objectives as a SME

Christina Wang LLM, CCRP, CAMS

This white paper outlines a model for balancing AML compliance and other business objectives for small and medium-sized enterprises (SMEs). The solution proposed here is one that encourages a culture of compliance within the entity as well as collaboration with independent professionals. The key here is flexibility, finding an approach that suits your business. Outsourcing part of the compliance function while enhancing the internal processes that mirror and monitor the compliance framework you set out for the business, establishing and maintaining interactions and feedback loops between internal and external functions are of vital importance. The ultimate goal is to present an approach to channel the compliance function through internal expert and external advisers.

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