Re/think’s Post

🌟 Introducing Eltizam Solutions' AML White Paper 🌟 We are excited to share our latest comprehensive white paper that dives deep into the evolving landscape of Anti-Money Laundering (AML) and compliance solutions for Designated Non-Financial Businesses and Professions (DNFBPs). 💼 In this white paper, you'll find: ✔️ Key trends shaping AML regulations in 2024 and beyond ✔️ Practical strategies to mitigate compliance risks ✔️ Insights tailored to law firms, jewelers, and other DNFBPs ✔️ How Eltizam’s solutions help businesses meet regulatory expectations with ease 💡 Whether you're aiming to enhance your compliance efforts or ensure full alignment with Qatar’s financial regulations, this paper will provide valuable insights to help you stay ahead. We believe Financial Protections Starts with Detection #AML #Compliance #RiskManagement #FinancialSecurity #DNFBP #LawFirms #Jewelers #Eltizam #AML2024 #BusinessSolutions #FinancialProtection #RegTech #AntiMoneyLaundering #ComplianceMatters #RiskMitigation #QatarBusiness #ElitizamSolutions #ComplianceIsKey #BusinessGrowth

An effective Anti-Money Laundering (AML) strategy not only protects your business from financial crimes but also provides additional benefits. One of the most common mistakes a business can make in the UAE is underestimating the importance of AML practices. Compliance with these practices is not only a formality, but it is a legal requirement to safeguard against financial crimes. However, the best way to implement a strong defense is through the help of professionals who rely on their experience and advanced techniques to make sure your business is safe from financial crimes and also compliant with the regulations. #AntiMoneyLaundering #AML #FinancialSafety #BusinessProtection #UAERegulations #FinancialCrimePrevention #ComplianceMatters #SecureYourBusiness #RegulatoryCompliance #BusinessIntegrity #ExpertAdvice #AMLExperts #FinancialSecurity #Compliance360 

Strengthening Our Fight Against Financial Crimes 🚨 New AML/CFT Legislation Alert! 🚨 I'm pleased to share that the Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation (Miscellaneous Provisions) Bill has been passed on June 28, 2024. This crucial legislation enhances our regulatory framework to better combat financial crimes. Here are the main elements: Enhanced Due Diligence: Stricter procedures for high-risk customers and transactions. Beneficial Ownership Transparency: Mandatory disclosure of beneficial ownership to prevent anonymity. Strengthened Reporting Requirements: Prompt reporting of suspicious transactions with higher penalties for non-compliance. Expanded Scope of Offenses: Inclusion of new activities and entities in AML/CFT definitions. Regulatory Coordination: Improved cooperation and information sharing among authorities. International Cooperation: Alignment with global standards and enhanced mutual legal assistance. These changes are important in strengthening our compliance efforts and safeguarding the integrity of our financial system. At Baker Tilly, our team is dedicated to staying ahead of these developments and ensuring our clients are fully compliant with the new regulations. For more details or assistance with AML/CFT compliance, feel free to us at RA@bakertilly.mu #AML #CFT #Compliance #FinancialSecurity #RegulatoryUpdate #MoneyLaundering #TerrorismFinancing #ProliferationFinancing #Accounting #Finance

Updates to the British Virgin Islands (BVI) anti-money laundering (AML) regime came into force on 15 October 2024 with prior regulatory approval now required for the appointment or replacement of a money laundering reporting officer. Previously, it was a notification requirement. New BVI introduced business guidance was also published on 28 October 2024 and firms in scope should revisit their AML policies and procedures to determine whether any changes need to be made as a result. Read our advisory to find out more: https://lnkd.in/eukfkr3J Lucy Frew, Iona Wright, Sara Hall, Natalie Curtis, Louise Denman, Marco L., Nicholas Quin, Gary McLean, Hannah Sagala.

Understand and evaluate your risk exposure to Proliferation Financing. This is crucial in adhering to updated AML policies. Visit our Proliferation Financing web page for more information and stay informed! - https://lnkd.in/etpkmpry #AMLpolicies #riskmanagement #ProliferationFinancing #compliance #financialcrime #financialregulation #financialsecurity #duediligence #regulatorycompliance #financialservices #aml #finance #business #regulations

Business stability lies in a well-designed strategy and effectively managing every financial risk. However, a critical element missing from most business strategies in the UAE is a comprehensive AML strategy. Many business owners overlook the importance of Anti-Money Laundering (AML) practices, which can negatively impact their business in the long run. Furthermore, once you implement an AML strategy, it trickles down, making the rest of your operations smoother and more effective. Your business could be 10 times more stable than it is today, but you must invest in your strategy and find ways to avoid compliance issues. Our experts offer the most effective compliance strategies, and we can help your business achieve full compliance with greater efficiency. 📧 Email: info@compliance360.ae 🌐 Website: www.compliance360.ae #BusinessStability #AMLStrategy #ComplianceMatters #RiskManagement #UAEBusiness #AntiMoneyLaundering #BusinessGrowth #ComplianceConsulting #BusinessEfficiency #FinancialRiskManagement #CorporateCompliance #BusinessStrategy #AMLSolutions #SmoothOperations #RegulatoryCompliance #Compliance360

The Institute of Chartered Accountants in England and Wales (ICAEW) released its AML Supervision Report for 2023/2024 The report was released as part of the ICAEW’s work to enhance anti-financial crime compliance in the accountancy sector. Key insights include:  ➡️ ICAEW supervised 9,911 firms, conducting 1,088 monitoring reviews in the 2023/24 period, with 35% targeting high or high-medium risk firms;  ➡️ Compliance findings showed 80.7% of firms were compliant or generally compliant, with a focus on ensuring effectiveness, not just technical adherence to AML regulations;  ➡️ Enforcement action was taken against 39 firms, with fines totalling £92,025, and one member excluded for facilitating money laundering. Firms can gain valuable insights from the report on as it offers practical takeaways which apply to a broad range of sectors facing AML/CTF obligations. Learn more: https://lnkd.in/eTXMaV6Y

Just in time for your Monday coffee break! ☕️ Check out our advisory below for the latest on changes to the BVI AML regime affecting MLROs & the new introduced business guidance. #aml #bvi #regulation #compliance

Understanding Anti-Money Laundering (AML) in audit and tax compliance is crucial for safeguarding your business from financial crimes. AML regulations require businesses to monitor financial transactions, detect suspicious activity, and ensure full compliance. Auditors play a key role in identifying risks, ensuring compliance, and maintaining transparency. At NOKAAF Auditors, we provide expert AML guidance, helping you stay compliant and protect your business from legal risks and penalties. Feel free to reach out to us at: ☎: +971 52 7646955 📩: info@nokaaf.com #NOKAAF #DAXINGlobal #NOKAAFAuditors #AMLCompliance #FinancialSecurity #RiskManagement #AuditAndTax

The Solicitors Regulation Authority’s (SRA) 2023/24 anti-money laundering (AML) report warns of the risks posed by common AML and financial sanctions issues. https://lnkd.in/dNtTtGtS