AML/CTF Preferences
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are designed to detect, deter, and disrupt money laundering, terrorism financing, and proliferation financing. The legislation requires businesses that provide a 'Designated Service' to perform and record Customer Due Diligence (CDD) on these Matters as well as Transaction Reporting where cash transactions for a Matter is $10,000 or more. Migration Manager allows the ability to record details of CDD on Matters and report where the Cash Threshold has been reached. Migration Manager can also notify your AML/CTF Compliance Officer when a Risk Assessment is set to high or a cash transactions on a Matter reaches the Cash Threshold.
Setting your Firm or Office Compliance Officer
If your business supplies what is considered a 'Designated Service', then you must have a Compliance Officer. If you run multiple offices, you may have a Compliance Officer for each office, or you may just have one Compliance Officer for the entire Firm (all offices).
1. Access Preferences
From the main menu, select Tools => Administrative => Preferences.
2. Set the AML/CTF Compliance Officer for your Office or Firm
Setting your Firm's Default AML/CTF Compliance Officer
If you have just one staff member acting as Compliance Officer for your entire firm, then you can set them as the Default AML/CTF Compliance Officer.
From the Firm tab, select the staff member from the Default AML/CTF Compliance Officer drop-down.
Setting an Office AML/CTF Compliance Officer
If you have a Compliance Officer for each Office, you can set an individual as the Office AML/CTF Compliance Officer for each Office.
From the Firm tab, first select the Office you wish to assign, then select the staff member from the Office AML/CTF Compliance Officer drop-down.
When Migration Manager looks for the relevant Compliance Officer for a Matter, it will first look for the Office AML/CTF Compliance Officer. If this has not been set, it will then look for the Default AML/CTF Compliance Officer.