The five As – Key attributes of an effective (A)MLCO

The regulatory landscape has shifted to a focus on demonstrating effectiveness in combating financial crime, driven by standards set by the Financial Action Task Force (FATF) and assessed by bodies like MoneyVal. As regulators and supervised persons (SPs) alike face increasing evidentiary standards, the role of the (Anti) Money Laundering Compliance Officer (MLCO, or alternatively AMLCO) has become crucial in evidencing effective compliance within SPs. This article explores the MLCO’s role and provides an insight into the essential attributes they should possess in order to effectively meet regulatory expectations.