Accountants provide advisory and accounting services on behalf of their clients. In accordance with the Financial Action Task Force (FATF), accountants belong to the category of "Designated Non-Financial Business and Professions (DNFBPs)" and must comply with AML regulations.

AML/CFT Compliance for Accountants: Navigating Anti-Money Laundering and Counter-Terrorism Financing Laws in the Accounting Industry

In accordance with the national anti-money laundering/counter-terrorism financing law, accounting firms, chartered accountants, general accountants, or management accountants are required to implement AML/CFT measures.
Accountants must have a thorough understanding of the potential risks associated with money laundering when offering the following activities:
Buying and selling of real estate
Managing clients’ money, securities or other assets
Management of bank, savings or securities accounts
Organisation of contributions for the creation, operation or management of companies
Creating, operating or management of legal persons or arrangements and buying and selling of business entities
Accountants possess skills and knowledge that can be exploited to aid clients in concealing illegal activity or financial crime, such as tax evasion and regulatory violations. This makes them potential facilitators of financial crimes. The biggest compliance gaps among accountants are typically related to confidentiality contracts and fears of losing business.

Regulatory Compliance

Accountants are subject to AML compliance, including:
KYC and client due diligence (CDD) – including screening and background checks
Customer and transaction monitoring
Record keeping and reporting any suspicious activity to the appropriate authorities
Comprehensive Risk Management Solutions
PEP & Sanctions Checks
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Sanctions Checks
Ensuring Compliance with Global Sanctions Regulations
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Adverse Media Checks
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Customer Identity Verification
Simplify your KYC procedures with our powerful Identity Verification solutions. Effortlessly meet KYC and AML/CTF obligations while strengthening your business's defenses against potential risks.
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Enhanced Due Diligence
Manage the risk of dealing with high risk customers
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Know Your Business
Our KYB checks offer thorough verification of business partners, enhancing your due diligence and strengthening your business network.
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Transaction Monitoring
Monitor financial activities as they occur with our Transaction Monitoring system. Detect and report anomalies swiftly to ensure regulatory compliance.
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AML Consulting Service
Gain valuable insights and stay ahead in the compliance landscape with our expert AML consulting. Tailored advice from ACAMS-certified advisors to elevate your strategies.
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Compliance as a Business
Transform compliance into your business advantage. Leverage our cutting-edge risk management tools to help your clients foster trust and integrity.
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Visa Check
It is important to perform visa and right to work checks as part of the hiring process for several reasons
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Jurisdictional Risk Checks
Make informed decisions with our comprehensive Jurisdictional Risk Assessment. Safeguard your business while optimising opportunities in diverse markets.
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