What does API Audit & Assurance Services include?

These services typically include independent audits of AML/CTF compliance, control design reviews, governance assessment, risk framework evaluation, and follow-up on remediation actions.

Why is an independent AML audit important for APIs?

An independent AML audit offers unbiased verification that your anti-money laundering controls and procedures are effective and compliant with regulatory expectations, helping reduce regulatory risk and improving stakeholder confidence.

What is evaluated in a governance & risk management audit?

Governance & risk management audits assess board oversight, risk governance, internal controls, reporting lines, policies and procedures, escalation channels, and how risk exposures are identified and managed.

What are safeguard audits about?

Safeguard audits evaluate how customer-fund safeguarding is implemented, whether funds are segregated, reconciliations done, customer protections in place, and whether the institution complies with regulatory safeguarding requirements.

How is remediation & follow-up handled after an audit?

After an audit, a remediation plan is provided with recommendations, responsibilities, and timelines, and follow-up verifies that actions were implemented and controls now function as intended.

Who typically receives the audit findings report?

Audit findings are usually reported to senior management, the board of directors or governance committee, relevant risk or compliance committees, so they can take oversight and action as necessary.

Audit & Assurance Services API | Regulatory Audit & Assurance

Audit & Assurance Services

ABM Global provides comprehensive audit and assurance services specifically tailored for Authorised Payment Institutions (APIs). In the highly regulated payments industry, maintaining robust compliance, operational integrity, and effective risk management is critical for sustaining business growth and demonstrating credibility with regulators. Our audit approach combines deep regulatory expertise with practical operational insight, helping APIs identify gaps, strengthen internal controls, mitigate financial crime risks, and maintain a proactive compliance posture. By providing both independent assessments and actionable recommendations, ABM ensures that your firm is prepared for regulatory inspections while enhancing overall business resilience.

AML Audit

Our AML Audit evaluates the effectiveness of your anti-money laundering framework, including policies, procedures, and operational controls. We assess customer due diligence (CDD), enhanced due diligence (EDD), transaction monitoring, and suspicious activity reporting (SAR) to ensure compliance with FCA regulations, the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLR 2017), and FATF recommendations. The audit identifies gaps or weaknesses, provides clear recommendations, and supports preparation for regulatory inspections and internal reviews.

Safeguard Audit

The Safeguard Audit verifies that client funds are protected in accordance with FCA safeguarding obligations under the Payment Services Regulations (PSRs). Our review examines segregation of customer funds, reconciliation processes, safeguarding account management, and internal controls. The audit ensures that your API maintains financial integrity, transparency, and full regulatory compliance, minimizing risks to clients and the firm.

Governance & Risk Management Audit

This audit provides an in-depth review of your governance framework, including board oversight, internal committees, and risk management processes. We assess operational controls, decision-making structures, and risk assessment methodologies to confirm that your governance practices are robust and effective. This evaluation supports operational resilience and demonstrates to regulators that your firm has strong oversight and proactive risk mitigation.

Independent Internal AML Audit

The Independent Internal AML Audit is a focused, objective assessment of your AML/CFT controls, reporting frameworks, and staff compliance awareness. We review policy implementation, operational adherence, alert handling, escalation procedures, and documentation practices. This audit identifies vulnerabilities, strengthens regulatory readiness, and helps prepare your firm for FCA inspections, ensuring your AML program is both effective and sustainable.