COMPLIANCE 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 Compliance requirements and the constantly changing Compliance landscape, have made it a necessity for financial and administrative service organizations 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 various Laws and Regulations.

 

Our compliance services include the following:

 

  • Advising on current national and international regulatory frameworks (including directives from national and international supervisory authorities) and designing compliant structures and compliance mechanisms for a multitude of organizations including: Banks, Investment Firms, Investment Funds, Corporate and Administrative Service Providers, Electronic Money Institutions, Payment Institutions and Insurance Companies.
     

  • Internal Audit of compliance methods and procedures of regulated entities, Quasi – Governmental Organizations and Non -Governmental Organizations. Our Internal Audit services consist of a combination of desk-based and/ or on-site inspections utilizing a risk-based approach. 
     

  • Review, revision and redrafting of Internal Operations Manuals or Compliance Procedures Manuals of regulated entities as well as more macro- level focused compliance policy drafting.
     

  • Investment Firms and Funds Registration and Licensing Services
     

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

  • 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.

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