Anti-money laundering checks
AML reviews and re-screens
Find the reviews that are overdue or coming due, record a due-diligence refresh, and run a client's re-screen.
Once a client is accepted, two anti-money laundering reviews recur for as long as they stay: a due-diligence refresh, where you confirm the risk rating and record what you checked, and a re-screen, a fresh sanctions and politically exposed person check. Orin OS raises a task before each falls due. This article shows how to see what is due and how to complete each review.
Before you start
- To see the report and a client's reviews you need permission to view clients.
- To record a review or run a screen you need permission to edit clients.
- The review task has no tick of its own. It completes when you record the review, or when the screen is run.
Steps at a glance
Step 01
See what is due
Open Reports and choose AML reviews. The figures at the top count Reviews overdue, Clients with one overdue and reviews Due in the next 30 days. Choose Overdue, Due soon or All to filter the list, search by client or by who holds the task, and use Export to download it. Each row shows the review, its status, the due date, the client's risk and who the task is with.
Below it, Clients not sanctions-checked lists clients whose latest screening checked nobody against a sanctions or PEP list, with the reason. Run a screening for each as soon as one can be run.
The AML reviews report. In the demo environment the reason in the second list reads Test data. Step 02
Open the client's AML reviews
Select the client in Clients and open the Compliance tab. Under AML reviews you see the Risk rating in force, the Last review, and a card for each review with its status and due date. Reviews recorded lists every review done so far.
The Compliance tab. 1: the tab. The AML reviews follow the acceptance record. Step 03
Record the due-diligence refresh
On the Due-diligence refresh card, select Record review. Confirm or change the Risk rating and Diligence level. Under What you checked, write at least 20 characters, for example the ownership and control, the nature of the business, and whether the rating still fits. Reasoning for the rating is required, at least 100 characters, when the rating is high or the diligence is enhanced. Set the Date of the review, then select Record review.
Recording the review. Saving completes the review task. A message confirms the review was recorded, its task is complete and the next review date is set from the rating. Screenshot of the saved result not captured, to leave the demo client's history unchanged.
Step 04
Run the re-screen
The Re-screen card is answered by running a fresh screen. Scroll down the Compliance tab to Screening and select Re-run. Every person and the business are screened again, and the re-screen's task completes.
If the new screen finds a possible match, your money laundering reporting officer (MLRO) rules on it. Nobody else can.
Screenshot not captured: running a screen sends the names to the screening service, so it was not run on the demo business.
What success looks like
The review's card shows its next due date, the review appears under Reviews recorded, and it drops out of the overdue list in the AML reviews report.
Next steps
- How anti-money laundering checks work.
- Onboarding outstanding: evidence still missing from new clients.
Common questions
When is the task raised? Before each review falls due. The client's AML reviews panel shows how far ahead under Task raised.
Can I tick the review task off instead? No. It completes only when the review is recorded or the screen is run, so the record and the task cannot disagree.