City Forum
11 Florinis Street, Office 601, 6th Floor
Nicosia 1065, Cyprus

P.O.Box 22573, Nicosia 1522, Cyprus

© 2019 by APC.

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"Globally Connected, Locally Respected"

AML COMPLIANCE CONSULTING SERVICES

In view of the 4th AML Directive, there is increased pressure for the constant monitoring of financial and administrative service providers. The implementation of the 4th AML Directive as well as the FATF recommendations have created increased KYC and due diligence requirements to all financial and administrative service providers in Cyprus. 

The complexity of AML requirements and the constantly changing AML landscape, have made it a necessity for financial and administrative service providers to continuously adjust and enhance their internal procedures to keep up with regulatory changes.   

We, at APC Audit Tax Advisory Ltd, through our experienced staff, offer Compliance and Anti-Money Laundering consultancy and support services to financial and administrative service providers. We help service providers identify, assess and understand the relevant risks as well as guide them in fulfilling their obligations which stem from the Prevention and Suppression of Money Laundering and Terrorist Financing Laws and Regulations.

Our compliance services include the following:

  • AML Consulting and AML Audits.
    Monitoring and assessment of the effectiveness of the policies, practices, measures, procedures and controls applied for the prevention of Money Laundering and Terrorist Financing.

 

  • Review, update and re-drafting of the Internal Anti-Money Laundering Manual.

 

  • Review and advice on drafting the Annual Anti-Money Laundering Officer Compliance report.

 

  • Internal Audit Function – Preparation of the Annual Internal Audit report.

 

  • Development and establishment of client acceptance policies:

    • Customer Identification (KYC) and due diligence procedures.

    • Construction and content of clients’ economic profile.

 

  • Development and establishment of Internal Reporting Procedures.

 

  • Development and establishment of the risk management and procedures manual.

 

  • Establishment of procedures for the ongoing monitoring of customers’ accounts and transactions.

 

  • Assessment and evaluation of the mechanisms for the existence of clients’ continuous audit trail.

 

  • Assessment and establishment of adequate governance arrangements to ensure effective and prudent management.

 

  • Preparation and implementation of Recovery and Resolution Plans.

 

  • Recommendation of suitable AML Software.