Software Update - 14th April 2024

On Sunday 14th April we updated AML HQ with a number of enhancments.  If you have any features that you would like considered for a future release, please contact one of our team directly or send an email to support@amlhq.com.

Please note that following the release, you will need to refresh your browser cache.  You can clear your cache via your browser settings or simply hold down the CTRL key while you click the F5 key.

A summary of the key changes and enhancements included in this release are as follows: 

1. Reduction in our service fees
2. Introduction of our Intelligent Business Risk Assessment (Firm-wide)
3. Updated Policies, Controls and Procedures Manual

We have also made some updates to our underlying user interface framework.  You may notice some minor aesthetic changes to the AML HQ screens; however, there has been no changes to layout or workflow and there should be no material impact to you or your team.

Keep reading for further information on the above enhancements.

Reduction in our service fees

On Sunday 14th April, we will be reducing the cost of the following services:

1. Our enhanced identity verification service will reduce in price from €5.00 to €2.50. 
2. Our PEPs/Sanctions screening service will reduce in price from €1.00 to €0.50.

The underlying services remain unchanged. We had the opportunity to reduce the cost to deliver these services and we wanted to pass this on to our customers.

Intelligent Business Risk Assessment

 Our new intelligent process is auto-populated with information from your AML HQ client portfolio and provides suggestive text for each of the risk categories and questions that you are required to document.  Our design has factored considerable client feedback from AML monitoring visits and review from the professional bodies.

Our new Business Risk Assessment form replaces the current form and will be available following this release under the policies section of your AML HQ account: https://web.amlhq.com/guidance  

A summary risk conclusion is automatically generated and presented for your review and approval.  This is an opportunity to provide external reviewers with an introduction to your business, to summarise your risk profile and to evidence how seriously you take your AML obligations.

The intelligent form also auto-populates with information from your AML Client files and automatically reflects the risk captured across your client portfolio.

Under each of the required risk categories, suggestive text is provided for you to review and add further context and specific client detail:

Updated Policies, Controls and Procedures Manual

We have released a new version of our AML Policies, Controls and Procedures Manual  to reflect Changes to the Criminal Justice Act (Money Laundering and Terrorist Financing) Act, up to and including those resulting from the European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023 [S.I. No. 22 of 2023];  and Changes to the Anti-Money Laundering Guidance for Members of the Bodies affiliated to the Consultative Committee of Accountancy Bodies in Ireland (CCAB-I). We have also updated the Key Officers list to include RBO Liaison Officer and their responsibilities. Following this release, this new version can be found in your AML HQ library under the policies menu: https://web.amlhq.com/guidance  

You can download, review and sign-off on this new version as part of your annual review and when you complete your next Firm-wide Risk Assessment.