Anti-Money Laundering and Regulatory Compliance in El Salvador

Understand how prepared your business is to meet the prevention obligations that apply to it.

We review existing documentation and controls to identify gaps, matters requiring attention and opportunities for improvement.

The service may include:

• Preliminary identification of the obligations applicable to the entity.
• Review of existing policies, manuals and procedures.
• Documentary assessment of the controls implemented.
• Identification of outstanding requirements.
• A matrix of findings and recommendations.
• An action plan to address the gaps identified.

For: businesses that want to understand their situation before implementing a prevention system or reviewing an existing one.

Develop documentation aligned with your organization's activity, risks and applicable obligations.

We support the preparation or updating of internal documents that underpin the prevention system.

The service may include:

• Preparation or updating of the prevention manual.
• Definition of internal policies and procedures.
• Customer identification and know-your-customer procedures.
• Criteria for classifying and assessing risks.
• Procedures for escalating and managing alerts.
• Document retention guidelines.
• Review of internal responsibilities.
• Recommendations for implementing and maintaining controls.

The content and deliverable documents will be defined according to the type of entity and the applicable current requirements.

Identify the areas of greatest exposure and establish controls proportionate to your business's risks.

We support the identification, assessment and documentation of risks associated with customers, products, services, channels, transactions and geographical areas, as applicable.

The service may include:

• Identification of risk factors.
• Definition of assessment criteria.
• Analysis of likelihood and impact.
• Classification of inherent and residual risks.
• Mapping risks to existing controls.
• Identification of control gaps.
• A treatment and monitoring plan.

Strengthen the procedures used to understand your customers, suppliers and business counterparties.

The service may include:

• Design of due diligence forms and files.
• Identification and document verification procedures.
• Criteria for classifying risk profiles.
• Guidelines for identifying beneficial owners, where applicable.
• Procedures for updating files.
• Enhanced due diligence criteria for higher-risk cases.
• Procedures for reviewing and escalating alerts.
• Recommendations for documenting decisions made.

Specific measures must be adapted to legal obligations and individual risk assessments. Due diligence must not become indiscriminate information collection.

Assess whether prevention procedures are documented, implemented and operating in accordance with the scope of the review.

The service may include:

• Review of policies and procedures.
• Assessment of supporting documentation.
• Review of customer identification and know-your-customer controls.
• Assessment of alert detection and management processes.
• Review of records and evidence of training.
• Documentary verification of assigned responsibilities.
• Identification of deviations from the applicable criteria.
• A report of findings and recommendations.

The type of audit, report and independence requirements will be determined according to the applicable regulations, the entity's characteristics and the required professional credentials.

Obtain guidance and organize the documentation needed for the registration and compliance processes that apply to your organization.

The service may include:

• Review of the entity's available information.
• Identification of applicable documentation requirements.
• Support in preparing and organizing policies and manuals.
• Review of documentation relating to internal roles and responsibilities.
• Preparation of checklists for the file.
• Documentation guidance for completing the relevant procedures.

The registration obligation, required documents and each entity's responsibilities must be verified against current regulations and the competent authority's instructions. Preparing documentation does not guarantee approval of an application.

Strengthen the knowledge of staff and those responsible for internal controls.

We design training according to the company's activity and its employees' roles.

Topics may include:

• Fundamental concepts of LA/FT/FPADM.
• Identification of red flags.
• Due diligence and know-your-customer procedures.
• Risk classification and assessment.
• Internal communication and escalation procedures.
• File and document retention.
• Staff responsibilities.
• Practical cases related to the business activity.

Turn assessment findings into concrete improvement actions.

The service may include:

• Prioritization of observations.
• Definition of corrective actions.
• Assignment of internal responsibilities.
• Proposed implementation timelines.
• Monitoring indicators.
• Follow-up review of updated documentation.