AML Online is a secure online record that ICB practices can access at any time to ensure that the records required by the MLR 2017 are up-to-date and accurate.
As an ICB-supervised practice it is mandatory that you record your clients and your CDD, and carry out client risk assessments using AML online. You must update AML online when you take on a new client and update it at least annually, or on a more frequent basis where the AML risk changes or you suspect the client might be involved in money laundering activity.
AML Online is designed to:
- save ICB practices valuable time
- guide and assist AML compliance, awareness and understanding
- reduce errors and misinterpretation of the regulations
- reduce the burden of anti-money laundering procedures for ICB practices
- increase security and data protection standards
GO TO AML ONLINE
You can download our guide to completing AML Online here:
Using AML Online Guide
Companies House Integration
You can import Companies House data for any registered company clients by inputting their Companies House Regstration number into the AML Online form.
We have extended the scope of AML Online and changed the way we calculate the recommended risk rating. You can find out more about this here:
> AML Online Update February 2020
> AML Online FAQs
Risk Assessment Generator
ICB practices must use AML Online to list their clients, complete their client risk assessments and keep a record of CDD checks.
AML Online walks practices step-by-step through all the factors that must be considered when completing anti-money laundering, and even generates a risk rating for each client according to the principles of the MLRs.
AML online will calculate your client's AML risk rating which will be either Low, Medium, or High. You should then approach your client due diligence based on this risk rating, putting in extra measures to deal with the higher risk clients, thus employing a 'risk-based approach'. There is no stigma attached to having a client rated as High risk, it simply means that extra care must be taken when managing your AML compliance with the client.
You must only amend risk ratings in exceptional circumstances and the reasoning behind any decision to amend risk must be fully documented. Amended risk ratings are closely monitored by ICB to ensure that amendments are made with due consideration.