AML and KYC Compliance

 

Regulated financial institutions have a responsibility to appropriately detect, deter and prevent money laundering, associated predicate offences and terrorism financing. We help regulated institutions such as fund managers, financial advisers, insurance brokers, trust managers and payment service providers with their Anti-Money Laundering Combatting the Financing of Terrorism (AML/CFT) obligations in Singapore. Our AML and KYC compliance services helps to protect the integrity of the financial system from illegal activities and illicit fund flows in the ordinary course of conducting its business.

 

 

KYC AML Compliance & Regulatory Requirements

An integral part of a comprehensive AML compliance program is Know Your Customer (KYC) regulatory processes that protect corporate service providers from criminal affiliation, money laundering and terrorism financing. Through the completion of a fundamental due diligence form of the individuals and their belongings, our KYC practices and offerings ensure that your clients are free of criminal offences. As part of the Financial Actions Task Force (FATF), Singapore requires corporate service providers to have Internal Policies, Procedures and Controls (IPPC) that protects themselves from working with any criminal affiliates. As per the ACRA regulation the IPPC should speak to the following areas:

  1. Customer due diligence & monitoring
  2. Suspicious transaction reports
  3. Record keeping
  4. Risk assessment and management
  5. IPPC audits
  6. Monitoring and managing compliance
  7. Employee training and hiring procedures

What does our AML compliance program and KYC services entail?

  • Screening of companies, groups, and individuals against the appropriate AML/CFT sanction lists via a reputable commercial database
  • Checking against Politically Exposed Persons (“PEP”) names, lists, and their affiliates
  • Assessing the risk associated with the relevant individuals/groups/companies being investigated based on your internal parameters, as well as the results of the searches made
  • Provision of regulatory reports in the relevant formats to allow for ease of record retention as well as audit and regulatory checks

Our AML and KYC program is based on the demographics of clients that you are targeting and is tailored to your business’ specific risk appetite as well as expected volume.

Ensure compliance with AML/CFT training

The AML and CFT online training course is IBF-accredited and designed to help your financial organization take the necessary steps towards reducing AML risks in Singapore.

OTHER RELATED SERVICES

NEEDING COMPLIANCE EXPERTS?

Get in touch with us today and learn more about our professional services

Compliance Management Singapore
Fund Management Company
Fund Set-Up In Singapore
Starting A Hedge Fund In Singapore
Capital Markets Services Licences
Fintech Regulatory Sandbox License
Financial Advisers Licence
Compliance Risk Management
Singapore Compliance Management
Corporate Compliance Singapore
Singapore Compliance Training
Registered Fund Management Company Singapore

Licensed Fund Management Company Singapore
Environmental Compliance

Corporate Governance
Regulatory Inspection
Compliance Outsourcing
Regulatory Approval
Regulatory Compliance
Risk Assessment
Risk Advisory

CONTACT

ARGUS GLOBAL PTE LTD
6 Raffles Quay , #14-07,
Singapore 048580
Near Raffles Place MRT (Exit I)

Monday to Friday (9am to 6pm) Except public holidays

Call
+65 68176861
Email: info@argusglobal.co

Pin It on Pinterest

Contact us
close slider
Contact us

Fill up the form below to get in touch with us!