AML and Risk Assessment Consultancy Services
Utilise our AML and Risk Assessment consultancy services to conduct a comprehensive review your existing processes and policies, and to neutralise potential threats to your business.
Assess Your Business Risk with Ease
Has your business undergone a review of its inherent risk and current AML/CTF processes? Our accredited AML compliance consultants offer expert advice on how you can manage and enhance your existing AML and KYC controls.
Idenfo Direct provides
- A holistic approach to conducting AML risk assessment
- An evaluation procedure to help understand the probability and impact of inherent risk related to money laundering and terrorist financing
- A grading system to gauge the level of significance of any AML or TF risks identified
- Enumeration of risks linked with customer categories, including Politically Exposed Persons (PEPs)
- Risk assessment for products and services provided by your business and the distribution channels employed
- Risks associated with the nature, magnitude and intricacy of your enterprise as well as any supplementary risks inherent to the industry of operation
The Importance of Conducting an AML/CTF Risk Assessment
Conducting an AML/CTF risk assessment allows you to identify potential risks and establish policies and procedures to mitigate and manage them. It's unrealistic to assume that a business won't be targeted for money laundering and terrorism financing. Therefore, it's important to identify and assess your ML/TF risk and establish frameworks to prioritize and monitor your exposure to these risks using AML solutions.
Ongoing Risk Reviews
An assessment of your ML/TF risk assessment must always be conducted before the introduction of any new product, channels, or the development of new techniques implemented to deliver your service.
In addition to periodic reviews of your systems and controls, there is a range of circumstances that can trigger an immediate need to review a product or channel’s ML/TF risk assessment.
Identifying Your Inherent ML/TF Risk
After identifying the risk assessment process, you need to implement appropriate systems and controls to reduce that risk. Following this, you can evaluate the residual risk and employ risk management systems and controls to oversee and manage that risk.
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Bronze
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Compliance Health Check by a Senior Compliance Expert- 5 hrs X 2 Days (Deliverable: Quick Review of the CBUAE Requirements and the client's current practices in Powerpoint)
Review of existing policies/procedures
(Deliverable: Detailed Report with recommendations on Gap analysis against UAE's AML CTF regulatory requirements)
Develop , Upgrade or Re-writing of policies/procedures
(Deliverable: New or Enhanced AML CTF related policies/procedures)
Communication plan and Training Content for relevant team members
