New FATF Rule Templates Now Available in Compass: Enhance Your Compliance

We are excited to announce the addition of FATF-specific rule templates to Compass! These templates are designed to help you stay compliant with the Financial Action Task Force (FATF) guidelines on Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF).

Accessing FATF Risk Policies

The new FATF policies are now available to all customers in a deactivated state within the risk policies section of Compass. Here's how you can access and activate them:

1. Navigate to Workspace Settings:
   • Go to the Risk Management section.
   • Select Risk Policies.
2. Find the FATF Policies:
   • Remove the "Policy Status: Live" filter if it is applied.

Watch explainer video here

These FATF rule templates align closely with the latest FATF guidance, making it easier for you to follow best practices and ensure compliance.

Why Use FATF Rule Templates?

• Stay Compliant: The policies are closely aligned with FATF guidelines, helping you meet international standards for AML and CTF.
• Ease of Use: Easily activate the templates to incorporate them into your risk management framework.
• Future-Proof: Be prepared for audits and regulatory reviews with standardized policies.

What’s Next?

In addition to the FATF templates, we are also working on releasing rule templates based on the guidelines from the European Banking Authority (EBA) and the Financial Crimes Enforcement Network (FinCen). These will be available over the next few weeks, further expanding your toolkit for comprehensive compliance management.

Stay tuned for more updates as we continue to enhance Compass with features that support your compliance and risk management needs.

Activate your FATF risk policies today and stay ahead of compliance requirements!

If you have any questions or need assistance, please reach out to our support team.