Achievements
Outsource of Compliance Function for Offshore Licensed Entities
We have been selected by Offshore Licensed Entities to advise, strengthen and carry out compliance function as follows :-
- Assist in the client’s compliance function, especially in the area of AML/CFT requirements, establishment and implementation of AML/CFT policies and procedures;
- Advise client on appropriate AML/CFT procedures, including, Customer Due Diligence, recordkeeping, ongoing monitoring are implemented effectively;
- Assess the effectiveness of AML/CFT mechanism to ensure that it is effective and sufficient to address any change in ML/TF trends;
- Advise client on updates or revision of compliance requirements;
Foreign Exchange Administration (FEA) Rules Framework
We have advised and emplaced a FEA framework for a development bank as follows :
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To conduct gap analysis and assess the compliance to FEA Notices
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To draft and prepare FEA compliance policy
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To review the existing standard of procedures and system of the development bank in relation to FEAR
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To draft FEAR related processes and provide recommendation/ comment/ feedback/ proposal on business activities and processes to ensure compliance with FEA Notices
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To provide/ recommend the relevant documentation to be obtained in support of the transactions undertaken
