Practical implementation
Subject to the AMLA: what does this mean for your company?
AMLA applicability affects more than individual forms. It may trigger new processes for client onboarding, risk assessment, file management and ongoing monitoring.
The specific obligations depend on the type of applicability and the business model. The following points show which organisational and professional tasks typically need to be prepared.
Obtain a definitive assessment of applicability
A self-check is a starting point. Before establishing new processes, applicability should be assessed conclusively based on the services and roles actually performed.
Determine supervision and responsibility
It must be clarified which supervisory organisation is responsible and who will assume professional responsibility internally.
Establish the internal organisation
Responsible persons must be appointed, the necessary directives and regulations issued, and continuing education and training ensured.
Identify contracting parties
Before entering into a covered business relationship, the required information and proof of identity must be obtained and checked.
Identify beneficial owners
It must be possible to establish which natural persons actually control a company, structure or the assets contributed.
Understand purpose and background
The company must understand why the business relationship is being established and whether the planned transactions are consistent with the known profile.
Maintain a complete file
Checks, documents, risk classifications, additional clarifications and decisions must be documented in a traceable manner.
Record risks systematically
Clients, business relationships and transactions must be classified according to transparent criteria.
Screen sanctions lists
Contracting parties, beneficial owners and other relevant participants must be screened against sanctions lists in accordance with the applicable requirements.
Investigate anomalies in greater depth
Unusual or contradictory circumstances require additional clarification of the background, purpose and origin of the assets.
Handle suspected cases correctly
Potential suspected cases require a clear internal procedure, documented decisions and defined escalation channels.
Keep information continuously up to date
Changes in ownership interests, governing bodies, business activities, payment methods or risks must be identified and processed.
Prepare an annual risk assessment
Company-related and client-related risks must be assessed, documented and adjusted where necessary each year.
Prepare the annual self-declaration
The required self-declaration must be prepared, approved internally and submitted on time.
Submit documents to the SRO annually
The documents and evidence required by the responsible self-regulatory organisation must be submitted in full and on time.
Prepare the annual audit
The annual audit must be prepared organisationally. Findings and the measures derived from them must be documented in a traceable manner.
Review implementation regularly
Processes must not only be described, but also applied in daily operations, documented and reviewed regularly.
What typically belongs in an AMLA file?
- Identification of the contracting party
- Powers of representation and signatory authority
- Information on the beneficial owner
- Information on controlling persons and ownership structures
- Purpose and background of the business relationship
- Risk classification and reasoning
- Additional clarifications for increased risk
- Decisions, approvals and internal comments
- Evidence relating to transactions or legal acts
- Evidence of updates and periodic reviews
What changes in day-to-day work?
Services may only be provided after the contracting party has been identified. However, the biggest change often lies not in a single check but in repeatability. Information must be collected in a structured manner, assessed transparently, documented completely and checked again when circumstances change. Without clear responsibilities, processes and systematic recording, gaps quickly arise between client onboarding, file maintenance and ongoing monitoring.
Clarify first, then implement
Before extensive processes or systems are introduced, it should be clear which activities are actually covered and which obligations apply to the specific company.
Guidance and next steps
The free check helps with the initial assessment. After receiving the result, you can request the detailed result by email and subscribe separately to specialist information on legal developments.