In regulated sectors, such as finance or legal services, you're typically required to conduct Anti-Money Laundering (AML) checks on clients periodically. This frequency can vary depending on industry regulations and your internal policies.
As a general guideline, AML checks are often conducted annually for ongoing business relationships. However, it's essential to monitor for any significant changes in the client's circumstances or your business relationship that might trigger the need for more frequent checks.
Major changes could include significant alterations in the client's financial activities, ownership structure, or any other relevant factors. We advise consulting legal or compliance experts within your company to ensure compliance with specific regulations and best practices.