Services

AML/CFT Framework

If your company falls under the scope of AML/CFT legislation you are required to have an AML/CFT Framework. Implementing an effective AML/CFT Framework allows your businesses to easily comply with regulations, thus protecting yourself against risks and avoiding regulatory penalties.

The AML/CFT Compliance Framework consists of the following four elements:

Step 1

Step 2

Step 3

Step 4

Business Risk Assessment

A risk assessment is the starting point of identifying, understanding, and evaluating potential hazards in your business operations concerning AML/CFT vulnerabilities. We perform the Business Risk Assessment in accordance with local legislation and guidelines and make sure this is in line with the risk appetite of your company.

We offer a variety of identity management and compliance software, from identity verification tools to AML workflow processes software that can help you meet all your compliance obligations.

AML/CFT Strategy

Based on the outcome of the Business Risk Assessment we will set up your AML/CFT Strategy. The strategy gives direction to your company and ensures that objectives and obligations with regard to points for improvement are met.

AML/CFT Policy

Based on your business profile and in accordance with applicable laws, rules and regulations we draft your AML/CFT Policy documentation. We will set up your policies and make sure these are in line with and in accordance with AML/CFT legislation.

AML/CFT Client Acceptance Procedure

In accordance with your AML/CFT Policy and business operations, a Client Acceptance Procedure is created. By doing so we make sure that your business operations continue in line with rules and regulations in a customer-friendly manner.

If your company doesn’t have an AML/CFT Framework in place – please connect with our team to see how we can help you.

Compliance Outsourcing

Due to the complexity of regulatory laws and regulations, companies that fall under the scope of AML/CFT legislation are required to have a Compliance Officer that has extensive knowledge and expertise in the field of AML/CFT. By outsourcing your compliance obligations to us, we ensure that your organization is compliant with local AML/CFT laws and regulations.

Our team of professionals are Certified Anti-Money Laundering Specialists accredited by ACAMS which will take care of the following:

Our main qualities are:

Supervisory inspections

Our CAMS-certified employees have expertise in providing guidance during an on-site inspection. We provide guidance during the preparation of the audit as well as during the actual audit itself. We also take care of the handling of the conclusions and the settlement of the supervisory audit, which can take months/years. Together with your company, our staff are the point of contact for the inspection.

Background checks

As part of AML/CFT compliance, companies need to know exactly who their (potential) customers are. Customer screening is seen as a critical step in the Know-Your-Customer (KYC) process to mitigate risk and comply with AML legislation. 

 

We establish client risk profiles based on Know Your Customer (KYC) information and documentation. Our screening process ensures, among other things, that clients and companies are checked for the presence of mandatory (inter)national PEP and Sanctions List checks. We also check all information and documentation by means of Adverse media (bad press) checks. Last but not least, we check whether the Source of Funds/Wealth matches the profile of the customer. Based on all these checks we create an extensive Know-Your-Customer report. This is how we ensure that you Know Your Customer.

Connect with our team members to stay compliant.

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Aruba

J.E. Irausquin Boulevard 20-A

Oranjestad, Aruba

Tel: +297 661 6446

newsletter

Curaçao

Dr. M.J. Hugenholtzweg 25

Willemstad, Curacao

Tel: +599 9 5214228

CICC_LOGO_WHITE

Aruba

J.E. Irausquin Boulevard 20-A

Oranjestad, Aruba

Tel: +297 661 6446

Curaçao

Dr. M.J. Hugenholtzweg 25

Willemstad, Curacao

Tel: +599 9 5214228

newsletter

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