What is banking compliance and why is it important?

Banking compliance refers to the process and controls that banks put in place to ensure they adhere to applicable laws, regulations, and industry standards. It is crucial to manage legal risk, build trust with regulators, and maintain operational integrity.

Which regulations are applicable to banks in the UK?

In the UK, banks must comply with regulations such as the Financial Services and Markets Act, Prudential Regulation Authority (PRA) rules, Financial Conduct Authority (FCA) regulations, anti‐money laundering (AML) laws, and data protection requirements.

Do you assist with obtaining banking licences and regulatory authorisations?

Yes. ABM Global Compliance provides support throughout the process of obtaining banking licences and regulatory authorisations, including preparing documentation, liaising with regulators, and ensuring ongoing compliance.

What is involved in a banking compliance audit?

A banking compliance audit involves reviewing policies, systems, and practices to identify gaps in regulatory compliance; assessing risk exposure; and recommending corrective actions to ensure full compliance with applicable regulatory standards.

How can strategic compliance solutions help my bank?

Strategic compliance solutions help banks align their compliance frameworks with business goals, implement robust systems for risk mitigation, and stay ahead of regulatory changes to avoid fines and reputational damage.

How do you monitor changes in banking regulation?

ABM Global Compliance tracks regulatory updates from bodies such as the FCA, PRA, and other relevant international regulators and reviews internal policies accordingly; we also provide advisory services to adapt to new requirements quickly.

Is there ongoing support after compliance frameworks are set up?

Yes. We offer ongoing monitoring, periodic reviews, staff training, compliance reporting, and adjustments to your framework as regulations evolve.

How do I start working with ABM Global Compliance for banking services?

You can contact us via phone at +44 207 515 7080 or email info@abmglobalcompliance.com/au. We begin with a discovery call to understand your needs, then propose a tailored compliance plan.

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Designing Comprehensive Compliance Frameworks for Banks

ABM Global Compliance develops and implements robust, end-to-end compliance frameworks specifically tailored to Australian banking institutions. Our frameworks align with key regulatory requirements from the Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC), and the Australian Transaction Reports and Analysis Centre (AUSTRAC). We cover governance structures, conduct and operational risk management, AML/CTF controls, credit risk policies, and third-party outsourcing compliance. Our approach integrates automated monitoring and reporting tools for real-time risk assessment and ensures scalable, resilient compliance systems.

AML/CTF Program Development & Reviews

We assist banks in designing and enhancing AML/CTF programs in accordance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, AUSTRAC guidance, and FATF standards. Our services include building robust customer due diligence (CDD) and enhanced due diligence (EDD) procedures, sanctions and politically exposed person (PEP) screening, transaction monitoring frameworks, and suspicious matter reporting (SMR) processes. ABM conducts independent program reviews, gap analyses, and remediation planning to ensure readiness for AUSTRAC compliance assessments and audits.

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Regulatory Licensing & Advisory for Banks

ABM provides expert advisory for obtaining and maintaining Australian banking licences, including Authorised Deposit-taking Institution (ADI) licences under APRA’s framework. We assist with new banking licence applications, variations, and ongoing compliance submissions to APRA, ASIC, and AUSTRAC. For foreign bank branches and subsidiaries, we offer strategic support on local licensing obligations and cross-border compliance considerations. Our readiness reviews help banks adapt to evolving prudential and conduct requirements.

Outsourced Compliance Functions

To address capacity and resource challenges, ABM offers outsourced compliance officer roles, including Chief Compliance Officer (CCO), Money Laundering Reporting Officer (MLRO), and Data Protection Officer (DPO). These services include day-to-day compliance monitoring, AUSTRAC reporting, governance updates, and advisory support—ensuring cost-effective, high-quality compliance operations without compromising standards.

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Banking-Specific Training and Capacity Building

ABM delivers targeted training programs for compliance teams, operational staff, and senior executives on Australian regulatory obligations. Training covers AML/CTF compliance, prudential and conduct risk management, APRA outsourcing standards, ASIC regulatory developments, and internal controls. We use interactive workshops, scenario-based learning, e-learning modules, and executive briefings to embed compliance culture and strengthen governance.

Internal Audit & Regulatory Readiness Reviews

We conduct full-scope internal audits and mock regulatory inspections to assess compliance with Australian banking laws, APRA Prudential Standards, and ASIC conduct rules. Our audits test key controls around KYC, AML/CTF, operational risk, market conduct, and governance frameworks. We provide detailed reports and practical recommendations to enhance preparedness for APRA and AUSTRAC reviews.

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Cross-Border & Global Banking Compliance

For Australian banks operating internationally, ABM offers advisory services to manage multi-jurisdictional compliance obligations, including FATCA, CRS, and global AML/CTF standards. We support harmonisation of group compliance policies, cross-border regulatory reporting, and coordination with regulators such as the FCA (UK), HKMA (Hong Kong), MAS (Singapore), and others.

Ongoing Compliance Support

ABM provides ongoing advisory services, including quarterly compliance health checks, AUSTRAC/ASIC regulatory update briefings, and compliance dashboard reporting. Our proactive alerts ensure institutions remain ahead of regulatory changes, sustaining continuous compliance readiness at all organisational levels.