Контекст: вопрос из анкеты по борьбе с отмыванием денег. Does your institution have a system in place so as to monitor / filter international wire transfers and detect the terrorists / terrorist organizations officially listed by the competent authorities?

Longman Dictionary:

8 in place
a) in the correct position:
The chairs for the concert were nearly all in place.
The glass was held in place by a few pieces of sellotape.
b) existing and ready to be used:
Funding arrangements are already in place.