AML, KYC & EDD
Increased regulatory activity in Hong Kong and Singapore, particularly with the recent actions taken by the MAS against BSI in Singapore for “serious breaches of anti-money laundering requirements” and the continuing fallout from 1MDB has served to further highlight and remind financial institutions operating in the region of the importance of know your client procedures and the responsibility that senior management of financial services firms must take for compliance with anti-money laundering rules and procedures.
ComplianceAsia Internal Audit provides a number of service offerings relating to AML, KYC and EDD to financial industry firms to ensure compliance with local legal and regulatory requirements.
Our team of compliance experts can help you:
- Draft and amend your AML policies and procedures and client onboarding materials
- Provide AML enterprise risk management assessments and methodologies for client risk ratings
- Perform enhanced due diligence on suspicious persons or transactions
- Perform full remedial services on deficient client files
- Review the professional investor or accredited investor status of your client base
- Provide customised AML training to your staff both in an online and classroom format
- Screen companies and individuals through sanction lists for PEP and CTF monitoring purposes
- Conduct AML institutional risk assessments