An anti money laundering (AML) compliance report assists businesses in uncovering any suspicious activity linked to a criminal act. This ranges from terrorist financing to money laundering and more. Nowadays, businesses are obliged to follow the increasing regulation and investigation standards set by local and international authorities. Complying with these standards demands extensive litigation, audits, and review.
Whether you are interested in addressing compliance more broadly or just want to address an urgent issue, your organization must have a comprehensive system in operation to manage all the risks of non-compliance with the company’s internal policies and procedures and the local and international rules and regulations.
KSP Accounting & Bookkeeping has thoroughly assessed the AML and the procedures for coping with the financing of terrorists (CFT) in Dubai. With a plethora of knowledge and experience, our expert professionals have extraordinary skills and competencies to sanction, AML, CFT, and compliance.
No matter if you want assistance in a particular financial situation, generating an AML Compliance Report or just need to seek improvement in your anti money laundering compliance program, KSP will cover you by addressing your concerns according to the standards and improvements proposed by the financial community.
AML Compliance Solutions Offered by KSP
Our range of AML Compliance services is pretty diverse. Here is a glimpse into the anti money laundering compliance checklist we offer:
AML Policy and Procedures
- Crafting, Reviewing, and updating AML / CFT Policy and Procedures
- Drafting a user-friendly manual for AML/CFT Policy and Procedures
- Drafting of Anti-Bribery and Anti-corruption Policy
- Comprehensive review and improvement of existing AML /CFT Policy and Procedures
Risk Assessment and Risk Profiling
- Customer risk assessment procedure review
- Aiding in the development of a customer risk assessment model in compliance with the NRA guidelines
- Assisting in the preparation of Risk identification and mitigation procedures
AML/CFT Health Check
- Gap Assessment
- Periodic review of onboarding documentation and transactions
AML IT Systems
- Assistance in the selection of appropriate AML/CFT software
- Conduction of software demos
- Review of existing core solutions, screening, risk profiling, and monitoring software solutions
Compliance Assistance
- Assistance in GoAML registration
- Guidance to AML Compliance Officer for responsibilities
- Assistance in Screening of customers and counterparty
- Assistance in conducting ED for High-risk customers
- Conducting Audits/reviews as per statutory requirements
- Assistance in the preparation of statutory reports
- Assistance in the preparation of documentation standards