Prevention of Money Laundering and Terrorism Financing
Prevention of Money Laundering and Terrorism Financing
- Implement Money Laundering Prevention Systems and Terrorism Financing Prevention System, including preparing internal regulation, statements, working instructions, forms, guidelines,
- Implement efficient and complete Internal Control System (ICS),
- Independent review of your implemented Money Laundering Prevention System, including Risk Assessment, KYC process, monitoring activities, records keeping, Policies and Guidelines,
- Risk Appetite Statement,
- Preparation and /or support of the yearly Risk assessment from AML perspective,
- Preparation of templates for annual reports on the basis of Anti Money Laundering Law,
- Preparation of templates for regular reporting about efficiency of Money Laundering System (KPI – Key Performance Indicators),
- Preparation of functional specification for upgrading IT system,
- Analysis of IT providers for IT supported solutions for holistic management of Money Laundering and Terrorism Prevention Risks,
- Preparation of training materials and organising training sessions for employees,
- Performing all above listed activities as “outsourcing” partner.
Compliance
- Independent analysis of Compliance requirements tailored to your business operations,
- Independent review of Compliance function upon ISO standards,
- Independent review of Anti-Bribery and Corruption system (AB&C) upon ISO standards,
- Assistance and advising in meeting the requirements of Personal data protection Directive (GDPR),
- Assistance in implementing FATCA requirements,
- Preparation of training materials and organising training sessions for employees,
- Preparation of materials for obtaining different licences issued by the regulatory authority (policies, working guidelines, codes) and preparation of professional presentations for meetings with regulators/ investors/clients/banks.
Compliance
Fraud Prevention System and Fraud Investigation (internal and external)
Fraud Prevention System and Fraud Investigation (internal and external)
- Implement an efficient system for fraud prevention,
- Defining fraud indicators and early red flags,
- Assessment of Risks and vulnerability for fraud occurrence,
- Independent review of implemented system for efficient fraud prevention,
- Preparation of training materials and organising training sessions for employees,
- Organising computer forensic investigation.
Business Ethics
- Preparation of Code of Business conduct and Ethics,
- Preparation and implementation of whistleblowing system,
- Raising awareness of the values and principles of the company.
Business Ethics
Internal Auditing
Internal Auditing
- Preparation of policies and methodologies for categorisation of measures, identified and reported by internal audit function,
- Preparation of audit plan upon risk assessment,
- Performing all above listed activities as external partner (outsourcing).
How can we help
How can we help
While implementing the holistic management system, we prepare:
- Gap analysis (“as-is” status report),
- Processes review,
- Policies and working guidelines,
- Comprehensive review of Internal Control System (ICS) upon COSO methodology,
- Audit program for subsequent assurance reviews,
- Risk Assessment and Model for Client Risk assessment,
- Customer Due Diligence, Simplified and Enhanced Due Diligence Process,
- Monitoring of client’s behaviour and business operations process,
- Record keeping system,
- Training materials and conducting training sessions.
We commit ourselves to keep you informed about required activities, needed to keep your implemented system up and running in line with regulatory requirements and new trends.
At independent review we prepare:
- Gap analysis (“as-is” status report),
- 3-tier solution with preliminary calculation of costs, required for solution implementation. Each individual measure for improvement is presented with priority ranking depending on risks, associated with identified deficiency, and required resources needed for successful implementation of measures,
- Implementation Road Map prepared upon your capacities, along with assessment of required resources and time plan.
In case you lack resources, required for activities described under “what we do”, we can be your partner at:
- Assuring partial or comprehensive support at implementation of measures,
- Monitoring of activities in line with your action plan,
- Implementing mitigation measures, imposed by the regulator,
- Performing services for you (outsourcing partner).