AML and KYC Assistance

If you would like more information on how we can provide AML/KYC assistance, please click here.

ComplianceAsia has been actively engaged in AML/KYC projects since our founding in 2003.

Since those early days financial crime related intelligence, strategy and tactics have broadened to include a much wider range of crimes, anti-corruption policy and procedures, stopping terrorist financing, dealing with tax crime and the ever changing world of sanctions enforcement and screening. There has also been a considerable broadening of the impact of global rules beyond just banks to securities firms, asset managers and custodians and then to accountants, law firms, trust companies, real estate agents. Soon that will be further extended to dealers in commodities, auction houses, the art world and Crypto. As the FATF formulates policies relating to wildlife smuggling and green crime, we will be there monitoring the new rules and designing compliance policies and procedures.

We have always been at the forefront of these developments, monitoring policy formation and then providing up to date relevant guidance and support to institutions and companies impacted by the rules.

Our services in AML are comprehensive. Here is a sample of what we have worked on:

• - Drafting manuals across multiple jurisdictions and rule sets;
• - Draft and review AML and CFT procedures;
• - Conduct AML mock inspections and reviews;
• - Undertaking AML due diligence on counterparties, administrators and trustees;
• - Reviewing group wide, company wide or specific product risk assessments;
• - Screening against customer lists for sanctions or adverse news;
• - Reviewing PEP decisions or assist in the risk assessment particularly for fund managers deciding on a new investor;
• - Remediation of client files across a wide range of financial services entities including banking, wealth management, fund management, private equity and broking;
• - Taking on a portion or the full range of KYC procedures for regulated entities on a temporary or longer term basis;
• - Respond to AML regulatory inquiries particularly in Hong Kong SAR, Singapore and the Cayman Islands;
• - Preparation and filing of suspicious transactions reports;
• - Consulting on suspected financial crime and the implications for financial services entities;
• - Financial crime investigations in Hong Kong SAR and Singapore;
• - Training, both online and in person on a wide range of AML/CFT topics as well as preparing content for industry associations and public events;
• - AML Compliance Officer, AML Reporting Officer and AML Deputy Reporting Officer appointments in relation to Cayman Islands funds;
• - Drafting policies and procedures and providing training for Hong Kong trustees registered with the Company Registry in Hong Kong SAR;
• - Expert advice to overseas AMLRO's in relation to Asian AML/CFT issues;
• - Design of AML/CFT policies and procedures for fintech and Crypto firms; and
• - AML support for Singapore Variable Capital Companies, or VCC's.

We are comfortable completing our work in English, Chinese (both simplified and traditional) and Japanese.

If you have an AML/CFT or KYC issue then we have probably dealt with it before and can help you with it.

Justin Fletcher, Associate Director, AML Services, Regulatory Compliance has worked in AML and customer due diligence for over 15 years and leads the team in Hong Kong.

Hardy Hussain, Associate Director, AML Services, Regulatory Compliance leads the team conducting screenings, onboarding, background checks and complex financial investigations.

If you would like more information on how we might be able to help you with AML/KYC, please click here.