Specified investigation In Sanctions And PEP Screening
Effective sanctions and PEP screening to mitigate risks.
At ACX Compliance, our Sanctions and PEP Screening package delivers expert solutions for managing financial crime risks and ensuring robust compliance. We provide specialized expertise and thorough analysis to address complex compliance challenges, offering actionable insights and strategic guidance. Our services are designed to enhance your risk management practices and keep you informed of the latest developments in financial crime compliance.
Key Compliance Features
Provide Subject Matter Expertise On Financial Crime Compliance
Our team of experts offers in-depth knowledge of financial crime compliance, including risks, controls, industry best practices, and regulatory requirements. We ensure that your compliance framework is aligned with the latest standards and effectively mitigates risks.
Review Name Screening Alerts For PEP, Adverse Media, And Sanctions
We handle name screening alerts for Politically Exposed Persons (PEP), adverse media, and sanctions that require higher-level review. Our experts analyze these alerts to determine their relevance and resolve complex cases that cannot be handled by lower-level operations.
Conduct Open-Sourced Intelligence Research
Our specialists conduct thorough open-sourced intelligence research to assess potential true positives. We perform detailed risk assessments and present our findings to senior compliance stakeholders, providing critical insights into potential financial crime risks.
Provide Actionable Advice To Stakeholders
We offer actionable advice on managing financial crime, sanctions, and anti-bribery & corruption (AB&C) risks. Our recommendations help stakeholders navigate compliance challenges effectively and stay informed of key developments in these areas.
Critically Evaluate Compliance Processes
Our team critically evaluates processes for identifying, documenting, and assessing compliance risks associated with your company’s activities. We provide expert advice and challenge existing practices to enhance your compliance framework and address potential gaps.
Review Risk Profiles And Assess Impact
We review risk profiles related to FCC, sanctions, and AB&C that are escalated from internal teams. Our evaluation assesses the impact of these risks on internal projects, policies, procedures, processes, and systems, providing strategic guidance for managing and mitigating these risks.
Roadmap
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01
Choice of Jurisdiction
The first step involves selecting the jurisdiction where the entity will be incorporated. The options include Dubai World Trade Centre (DWTC), Dubai Multi Commodities Centre (DMCC), or Dubai
Economic Department (DET).
02
Initial Disclosure Questionnaire
Once the jurisdiction is selected, the entity will receive an Initial Disclosure Questionnaire. This questionnaire must be completed and submitted to the Regulator for review.
03
Full Document Submission
The Regulator will review the submitted Initial Disclosure Questionnaire. During this review process, the Regulator may issue a Request for Information (RFIs) to seek clarifications regarding the application and the business model. If the Regulator is satisfied with the initial submission and any additional information provided, the Initial Approval (IA) or Approval in Principle (AAN) will be granted.
04
Initial Approval (IA) / Application
Acknowledgement Notice (AAN)
Following the IA/AAN, the entity must compile and submit a comprehensive list of documents to the regulator. This submission includes approximately 65 sets of documents, ensuring compliance with the relevant rulebooks and regulatory requirements.
05
Regulatory Evaluation
The Regulatory will evaluate the submitted documents. This step often involves multiple iterations, with the Regulator requesting amendments or additional clarifications. Typically, this process can take up to 2-3 rounds to finalize the submissions and meet all regulatory requirements.
06
Receipt of License
Upon successful completion of the evaluation process and satisfaction of all regulatory requirements, the entity will receive the VARA license, officially authorizing it to operate within the chosen jurisdiction.
Why Choose Us?
Handling High-Volume And Complex Screening Alerts
We review and manage high volumes of name screening alerts, including PEP, adverse media, and sanctions. Our experts resolve complex cases and ensure accurate and effective handling of alerts that require advanced analysis.
Navigating Complex Compliance Risks
Our subject matter experts provide comprehensive knowledge and guidance on financial crime compliance. We help you navigate complex risks and ensure your practices align with industry best practices and regulatory requirements.
Providing Timely And Actionable Compliance Advice
We offer timely and actionable advice on managing financial crime, sanctions, and AB&C risks. Our guidance helps stakeholders stay ahead of emerging risks and maintain effective compliance practices.
Conducting In-Depth Risk Assessments
Our team performs detailed open-sourced intelligence research and risk assessments for potential true positives. We present clear findings to senior stakeholders, supporting informed decision-making and risk management.
Assessing Impact Of Risk Profiles On Internal Operations
We review and assess risk profiles escalated from internal teams, evaluating their impact on internal projects and policies. Our strategic guidance helps you manage risks and adapt your processes effectively.
Evaluating And Enhancing Compliance Processes
We critically evaluate your compliance processes, identifying and addressing potential gaps. Our expert advice enhances your risk management framework, ensuring robust and effective compliance.
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