AML obligations for US accountants are expanding in scope and complexity. From client onboarding and beneficial ownership reporting to riskbased monitoring and suspicious activity reporting, getting AML right is essential to protect your firm from regulatory fines, reputational damage and legal hassle.
This guide breaks down what AML obligations for US accountants actually look like and explains how FigsFlow’s allinone compliance platform makes managing them far simpler and more efficient.
What Are AML Obligations for US Accountants?
In the United States, accounting professionals must adhere to a range of antimoneylaundering rules when they provide services that could expose them to financial crime risks. These AML obligations for US accountants generally include:
📌 Customer Due Diligence (CDD)
📌 Risk Assessments
📌 Suspicious Activity Reporting
📌 RecordKeeping & Ongoing Monitoring
Why AML Obligations for US Accountants Matter More Than Ever
Regulators are paying close attention to nonbank professionals because accounting firms often assess assets, manage client money, and facilitate entity structures — all activities that can be abused by financial criminals. Noncompliance can lead to stiff penalties, regulatory scrutiny, and loss of professional licences.
To stay compliant, firms must embed AML into daily operations rather than viewing it as a checklist task.
How FigsFlow Simplifies AML Obligations for US Accountants
FigsFlow is an advanced AML and compliance platform designed to help accounting firms meet their AML obligations for US accountants effortlessly.
🔹 EndtoEnd AML Workflow Automation – FigsFlow unifies every step of AML compliance, including client identity verification, risk assessment, beneficial ownership screening, sanctions checks, and ongoing monitoring — all within a single intuitive interface.
🔹 BuiltIn Risk Scoring & Monitoring – Firms can automatically classify clients based on risk and trigger appropriate actions, ensuring that your AML processes are consistently applied and documented across your practice — a core requirement of AML obligations for US accountants.
🔹 Regulatory Readiness & Audit Trails – FigsFlow creates complete, timestamped audit trails of every AML action. This centralised recordkeeping makes it easy to demonstrate compliance to regulators during inspections and satisfy documentation requirements.
🔹 Integration With Practice Tools – Connect FigsFlow with your existing accounting software (like QuickBooks or Xero) so that AML data doesn’t live in a silo — boosting efficiency and reducing duplicate entry.
🔹 Ongoing Support & Updates – FigsFlow stays up to date with current AML regulations — meaning your firm’s processes adapt as rules evolve. This helps US accounting professionals proactively manage their AML obligations for US accountants without scrambling to react to new requirements.
Practical Tips to Stay Compliant
To meet AML obligations for US accountants effectively:
- Standardise your onboarding with secure digital identity verification.
- Implement robust risk assessments that adapt as client behaviour changes.
- Train your team on AML obligations regularly to maintain awareness.
- Review your processes often to keep up with regulatory shifts.
Leveraging technology like FigsFlow ensures these steps are tied into your everyday workflow, rather than being treated as administrative chores.
Conclusion
Meeting AML obligations for US accountants isn’t just about ticking boxes, it’s about building trust, maintaining professionalism, and protecting your firm from financial crime risks. With more complex reporting requirements and regulatory expectations, modern compliance demands modern tools.
FigsFlow empowers accountants with a complete AML compliance ecosystem, helping you fulfil your responsibilities confidently, so you can focus on delivering value to your clients, not chasing paperwork.
