AML/CFT SERVICES
We assist with all aspects of your anti-money laundering (“AML”), counter terrorist financing and Know Your Customer (“KYC”) programme, including preparing and reviewing AML and on-boarding procedures, investor and client screening, AML remediation and refresher exercises, enhanced due diligence and specialized staff training. If you would like to find out more Singapore’s AML/KYC requirements, please peruse our knowledge library here.
HM also offers audits of Payment Services Act license applicants to evidence compliance with relevant MAS Notices and the travel rule.
A FULL SCOPE OF
AML/CFT SERVICES
OUTSOURCED KYC
Do you or someone you know find KYC miserable? We can help!
We facilitate client onboarding to your requirements. Services include liaising with your clients to collect documents, reviewing KYC documents for approval, running sanction and PEP screens, assistance with implementing digital and non-face-to-face KYC solutions and ad hoc advisory.
AML/CFT AUDITS
By design, audits are granular reviews of how you execute your procedures and highlight deficiencies and mistakes. Our audit process is rigorous and we make no assurances about what our findings will be. With that as context, we endeavor to make the experience as positive as possible! HM is always striving to improve and we think our audits help our clients make their businesses stronger.
We offer independent audits of your AML/CFT program for compliance with relevant MAS standards (MAS Notice 626, PSN01, PSN02 and/or SFA04-N02) and best practices. We also offer audits of non-face-to-face KYC practices.
Our processes consists of: (1) agreeing the audit scope with you (it is critical to ensure we are covering what you envisage – nothing worse than going through an audit and not getting what you expect), (2) conducting our procedures including reviews of all relevant compliance documentation and sample onboarding files/transaction monitoring alerts as well as interviews with key personnel, (3) having periodic meetings to discuss the progress of the audit and preliminary findings, (4) prepare a draft audit report for your review and feedback and (5) delivering our final audit report for the Board of Directors.
HOW CAN WE HELP YOU?
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Actionable Strategy for a Grey Environment | © 2023 HM
*HM is not a law firm and neither it nor its personnel may act as an advocate or solicitor for purposes of the Singapore Legal Profession Act. HM is a Singapore-headquartered management consulting firm.
HM operates under three brands: HM Strategy, HM Compliance and HM Counsel. HM Compliance offers Singapore compliance services, including outsourced compliance, MAS licensing services, ad hoc advisory and consulting services, corporate governance advisory, ESG consulting, training and internal audit. HM launched as a Singapore compliance consultancy in 2018. HM Strategy offers regulatory and management strategy advice to Boards of Directors and senior management as well as risk management consulting. HM Counsel offers in-house counsel services.