Financial Crime Compliance | Training | Advisory
From the previous article, we have come to known that why different regulatory bodies want to implement goAML and why they are pushing different financial sectors to implement them. However, the problem occurs when the expectation of regulatory bodies does not match with the reality of financial institutions. We are going to share some problems…
If you are in the financial institution sector, you must have heard the term GoAML. This two-part article series will explain what is GoAML, why was it introduced, what are nuts and bolts behind it. What is goAML? GoAML application is one of out of many solutions provided by UNODC to combat worldwide financial crime…
If you are following my articles series , you must by now have known the difference between the AML/CFT policy and AML/CFT procedures. If you have missed out any of them please go through them by following this link: AML/CFT policy is brief introduction of all control measures that you are going to apply in…
Welcome to part 3 of our article series which is all about creating policies and procedures regarding AML/CFT. Once you have done a risk assessment of your organization and identified the various risks that are present in your organization, it is time for risk mitigation that is to implement different control measures to reduce the…
As mentioned in the previous article series, we are going to look at the practical example of the risk assessment through the application of Microsoft Power BI. We have also made a video tutorial for this that can be found at the end of this article. However, we suggest you go to this article first…
Look before you leap. John Heywood (c.1497-1580) We have been hearing this quote time and again but we keep forgetting it repeatedly and suffering consequences. Following two examples will be able to justify the aforementioned fact: Organization drafting policies before doing AML/CFT risk assessment. This is the same as driving in the dark being blindfolded….
This article summarizes what FATF is and what it stands for. Further, it outlines FATF Recommendations and classifies them into two categories: Recommendations that are applicable to Financial Institutions and Country as a whole. Why and When? As international awareness and concern began to raise regarding money laundering, there was a need for serious action….
If you are in Banking Industry or are following current news update, you might head that Nepal is near threshold of mutual evaluation by APG. Previously, we were unscathed by skin, that is we saved ourselves from being in blacklist, but, still we are not out of danger. So, let us explore, what is mutual…
NowADays, Information Security has caught lot of peoples’ attention. Many don’t understand it, some interested give it A try, few serious ones make a career out of it. I have prepared this article for Beginners who are thinking of adopting an Information Security Career for their bread and butter. But those who are veterans can…
This article is dedicated to all those brave souls who are starting on their own, an online venture in todays’ challenging world of strict regulatory restrictions. This article will share you with ideas on how you can earn money online in this complicated and overwhelming regulatory environment. I like to start with Money Laundering Concept….
