Financial Crime and Anti-Money Laundering
- Compliance with laws and regulations: Our firm can ensure compliance with all relevant laws and regulations related to financial crime, such as those related to anti-money laundering (AML) and countering the financing of terrorism (CFT). This includes implementing policies, procedures, and controls to detect and prevent financial crime.
- Risk assessment: Upon your approval we will conduct a risk assessment to identify the specific types of financial crime risks it is exposed to and develop strategies to mitigate those risks.
- Customer due diligence: Our clients in the UAE ask us to conduct customer due diligence reports, including identity verification and ongoing monitoring, to detect and prevent financial crime.
- Employee training: HF&A can provide regular training to employees on financial crime risks and compliance with laws and regulations.
5. Internal controls: If you wish to protect your system, we can circumvent possible infractions by implementing internal controls, such as segregation of duties and transaction monitoring, to detect and prevent financial crime.
6. Suspicious activity reporting: We have partnered with various entities to enhance your monitoring by implementing suspicious activity reporting (SAR) system in place and ensure that all employees know how to report suspicious activities.
7. Third-party risk management: It is ideal to conduct a due diligence on its third-party vendors and partners to ensure that they also comply with laws and regulations related to financial crime and our firm is consistently performing this service for our clientele.
8. Incident response plan: A firm should have an incident response plan in place to respond to financial crime incidents quickly and effectively.
9. Auditing and monitoring: We can assist in conducting regular audits and monitoring to ensure that its financial crime prevention measures are effective and to identify potential issues early on.