AML/CFT is a special system, guidelines and policies developed to stop criminals and terrorists from any chance of financing, combating and abuse of the financial system. They involve the prevention of transfer, conservation and disposition of any illegal income and finances.Increased innovation, high-end technologies and the use of sophisticated equipment are causing extreme risks in financial and other related sectors, not only within one country but all across borders. To cope with such risk, the whole world is putting their full effort along with collective effort internationally.
Money Laundering and terrorism financing are globally categorized as high-risk crimes which have hampered the financial system of many nations. Nepal has ratified various international conventions and instruments related to AML/CFT and also become a member of AML/CFT and crime-specialized international institutions such as Asia Pacific Group on Money Laundering (APG), Egmont Group of Financial Intelligence Units (FIUs) and Asset Recovery Inter-Agency Network-Asia Pacific (ARIN-AP).
AML/CFT has not only been a tool of financial or economic good governance, it has also been a substantial challenge for implementing agencies and institutions, nationally or internationally. To achieve its objective and address the challenges at a same time has been a big question before the government and business sectors. Deficient AML/CFT system has been an issue of stability, integrity and reputation. This gap has been observed and realized by all such institutions, however, right an instrumental solutions are not readily available due to its complexities, technicalities and dynamism and day to day changes. Such challenges could not be addressed without support of knowledgeable, experienced and skillful experts and technology. The day to day issues and their timely solutions are also growing as serious challenges to the industry.
Our objective is to provide solutions to your organization’s challenges. We aim to serve you for the long-term benefit of your organization. With this goal in mind, we are pleased to present our proposal for your consideration. Our professional services can help achieve your objectives, including:
- Need Assesment
- Risk Assesment Module and Report Prep
- Risk Assesment Update
- Policy & Procedure draft/ review of existing procedures
- Regular updates on emerging AML CFT issuesÂ
- IT solutions
- Regulatory reporting- Go AML Reporting
- capacity building avenues like training (National & International) and exposure visits