Outsourcing the implementation of the AML procedures
Our team will help you implement your internal AML/ CFT policies and procedures by professionally performing all required tasks.
We will handle Anti – Money Laundering back office work, including tasks such as:
- Customer Due Diligence
- Enhanced Due Diligence
- Know Your Customer (KYC AML)
- AML Risk Analysis and Assessment
- Verification of Customer Identification
- Verification of Politically Exposed Persons (PEPs)
- Verification of Beneficial Owner
- Verification of Customer Transactions
- Record-keeping
- Compliance Reporting and Notifications
The rapid entry of technology in the AML/CFT/KYC sector has led to a led to a great optimization of processes. The multitude of compliance management software available in the market is an invaluable aid to regulatory compliance. As artificial intelligence (AI) advances, new tools are created every day that independently and reliably perform a range of tasks.
Despite the advent of new technologies, much of the processes remains the responsibility of the compliance officers. Task such as in-depth review and analysis of documents, especially when it comes to legal entities, decision making, gathering additional data and information, escalation, discrepancies check and much more, fall within the scope of duties of the compliance team.
Compiassistance will act as the AML compliance team to assist the Money Laundering Reporting Officer (MLRO) in the fulfilment of his AML/ CFT duties, doing the back office aspects as would ordinarily be undertaken by your compliance department.
Our Team
Compliassistance will find the perfect talent for your team.
We understand how important and critical the job of the compliance department is.
That is why, our team consists of members dedicated to their work. All our talents are with proper background – whit bachelor’s or master’s degrees in law and finance. Disciplines, that provide ideal knowledge and mindset for compliance-related positions.
All our talents have excellent knowledge in written and spoken working English, German or French.
The team members went through subsequent training in the filed AML/ CFT, which includes theoretical and practical elements, including working with some of the well known in the industry management software.
Depending on the clients’ needs we can provide everything from entry – level to senior positions.
Why to choose us?
The outsourcing of AML/ CFT/ KYC process is a cost-effective and efficient way of managing AML compliance. Compliassistance will undertake all the everyday duties AML department typically does.
There are many advantages to outsource your AML procedures to Compliassistance, some of which are:
Insurance
Compliassistance has professional liability insurance, which covers our liability for damages caused in the course of our commercial activity.
Jurisdictions
Compliassistance is a BPO provider, focused in EU and UK regulatory compliance outsourcing. However we are able to provide services to companies registered in other jurisdictions.
EU and UK legislation in the field of Anti – Money Laundering and Combating the Financing of Terrorism is one of the most advanced and developed worldwide. The requirements for the obliged entities are very high, and the regulatory supervision is strengthened.
The fourth iteration of the EU’s anti-money laundering directive (AMLD IV), published on 5 June 2015, brought the EU’s money laundering laws more in line with the US’s. Many other countries have been following the same path of unification and convergence of legislation for years.
Therefore, Compliassistance provides an outsourcing services also to companies from other jurisdictions, including US, Canada and Israel.
FAQs
Here you can find answers to some of FAQs about our services