Management Consultancy
Management Consultancy
Anti-Money Laundering Consulting Services in the UK BCS provides a breadth of services under the domain of AML and CFT compliance. Our expertise, knowledge, and industry experience bring a splash of value to every service that we render to our clients. Our team of Anti-Money Laundering professionals, compliance experts, financial analysts, technology enthusiasts, economists, policymakers, strategic decision-makers, law enforcement executives, and data scientists ensure to provide quality AML consulting services for your entire AML journey.
With our expertise in compliance, AML policies and procedures, risk management, and KYC norms, we help our clients in UK & Europe with the relevant Anti-Money Laundering services to help them achieve a higher level of AML compliance. Our AML Consultants are dedicated to making your journey of AML compliance seamless, effective, and efficient. Your AML compliance is our goal so that you focus on your goals of increasing your business growth opportunities.
An AML/CFT Policies and Procedures Manual is a formally documented guide that outlines the policies, controls, and procedures necessary for implementing AML/CFT legal requirements and associated regulations. Senior management approves this policy document, making it accessible to compliance and other relevant staff, independent AML auditors, as well as supervisory authorities. It is regularly updated to align with the latest legal mandates.
Given the increasing prevalence of money laundering and terrorism financing activities, businesses in the UK and Europe face ongoing risks. These risks can cast doubt on an organization's integrity and potentially damage its reputation. Therefore, it is imperative for organizations to maintain firm control over their processes and operations to mitigate the risk of exposure to money laundering and terrorism financing activities. We offer AML/CFT policy, control, and procedure documentation services to support organizations in ensuring compliance with AML laws in the UK and Europe.
To safeguard their businesses from money laundering and terrorism financing activities and mitigate the associated risks and penalties, businesses in the UK and Europe need effective methods and strategies. They must implement necessary policies and procedures to detect and prevent potential money laundering and terrorism financing impacts. Employing relevant AML/CFT regulations and control systems throughout their operations is vital to eliminating the risks of money laundering and terrorism financing at any stage of their business activities.
As the UK and European markets are witnessing an influx of rules and regulations pertaining to AML and CFT, organisations are preparing to embrace strategies for adherence to these laws. Global economies require businesses with a heightened risk of encountering money laundering and terrorism financing issues to establish AML/CFT frameworks within their operations. An often-overlooked necessity is the establishment of an in-house AML compliance department and the appointment of a dedicated individual responsible for achieving AML compliance. We offer our assistance to businesses in the UK and Europe in establishing an in-house AML Compliance Department and ensuring compliance with AML regulations in the UK and Europe.
AML/CFT compliance programmes also encompass AML training initiatives designed to raise employees' awareness of the importance of AML for their business operations. Organisations are obliged to conduct pertinent AML training for their staff to elucidate their roles and responsibilities within AML compliance programmes. Such AML-oriented training equips employees with the ability to identify suspicious transactions, carry out customer identification, recognize risks associated with their business sector, and comprehend the implications of applicable rules and regulations.
Every country has a set of regulations and laws pertaining to AML and CFT policies, in addition to international guidelines that have global reach. Given the emergence of new risk factors contributing to money laundering and terrorist financing activities, these laws and guidelines undergo frequent revisions and adaptations. Consequently, companies develop their AML and CFT programmes to conform to the laws and maintain ongoing AML compliance.
BCS offers managed KYC and CDD services to assist you in maintaining compliance with AML regulatory mandates and reducing expenses.
DNFBPS and FIs in the UK and Europe encounter challenges in recruiting proficient AML professionals to execute their KYC and Customer Due Diligence (CDD) processes. Moreover, internal inefficiencies hamper the effectiveness of the entire compliance function. Non-compliance could lead to financial and reputational hardships for your organisation.
01 - Lower the cost of AML compliance and deliver an improved customer onboarding experience.
02 - Stay compliant all the time with everchanging AML compliance laws and regulations and reduce the overall risk associated with the business.
03 - Free up resources to focus more on the critical business functions.
04 - Identify potential risks associated with a customer well in advance.
KYC and CDD Managed Service Methodology
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1. Risk assessment and customer risk rating (CRR)
2. Customer identification program (CIP)
3. Customer due diligence (CDD)
4. Ultimate Beneficial Owner Identification
5. Enhanced due diligence (EDD)
6. Sanctions screening (UAE Local Terrorist List, UNSC, OFAC, EU, etc.)
7. Politically exposed person screening
8. Adverse media screening
9. KYC remediation and renewals
10. Alert investigations
11. Customizable due diligence reports
12. Data auditing, cleansing, and validation
Punctual. Pertinent. Progressive.
Reduce the cost of AML Compliance. Go for our managed KYC and CDD Services.
Key Differentiators
We use the international standard KYC and CDD processes which enhance compliance and efficiency and reduce the non-compliance risk
We provide a consistent and improved customer experience when it comes to customer onboarding. We leverage the power of automation and ensure a quick and hassle-free onboarding.
We possess significant experience in providing managed KYC and CDD Services for DPMS, TCSP, Accountants, Auditors, Real Estate Agents, Lawyers, and Notaries.
AML UAE possesses premium know-how in KYC, Screening, Standard Due Diligence, Enhanced Due Diligence, Risk Assessment, PEPs, UBO, Adverse Media Screening, Sanctions, and overall AML Compliance requirements.
We are committed to providing a high-quality service with significant cost savings.
We use state-of-the-art Name Screening Software to check with the UAE local terrorist list, UNSC list, and other sanctions lists as per the customer requirement.
Leverage a standardized work methodology to manage and exchange KYC and CDD information.