Pursuant to laws and regulations on combating money laundering and terrorist financing, service providers must take reasonable measures to monitor clients and their transactions on a continuous and/or regular basis by means of an established risk profile and risk classification of that specific client. This is required, among others, to detect any unusual patterns, transactions and/or activities that require further investigation.
Compliance Services Caribbean can assist your organization in monitoring your business relations and client transactions, and subsequently detecting and investigating (potential) unusual transactions. On the basis of that detection and further investigation, appropriate measures can be determined and it can be assessed by means of indicators whether transactions should be reported to the FIU.
Compliance Services Caribbean has comprehensive experience in monitoring transactions and as a result also in recognizing the red flags. Compliance Services also uses several databases to screen persons who pose a higher risk.
Does your organization need external transaction monitoring? We urge you to please contact us for an open, free consultation.