How often do I need to run AML checks on clients?

In industries subject to regulation (e.g., finance or legal services) the frequency of Anti-Money Laundering (AML) checks is determined by industry regulations and internal policies.

For ongoing business relationships, it is best practice to conduct AML checks annually.

It's usually standard protocol to also perform additional AML checks if there are significant changes in the client's circumstances or your business relationship. These changes might include:

  • Substantial changes in the client's financial activities
  • Changes in ownership structure
  • Any other major relevant factors

Please always consult with legal or compliance experts within your company to make sure that you're compliant with specific regulatory requirements.