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Why KYC? In this session, the experts discuss KYC/ AML obligations, compliance deadlines and low cost tools for KYC checks.
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As a professional services firm, are you unknowingly committing a criminal offence?
Under the laws of the UAE, failure to report suspicions of money laundering or terrorist financing is a criminal offence.
Unsurprisingly, on 3 March 2021, the UAE issued a circular reminding all law firms, accounting firms, real estate brokers, company service providers, and dealers of precious metals to register with the goAML platform introduced by the government by 31 March 2021.
Not just that, in October 2020, 200 law firms in the UAE were suspended for failing to comply with KYC/ AML procedures.
This underscores the importance for professional services firms to comply with the KYC/ AML regulation, particularly the Federal Decree No. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism.
Failure to comply with these laws could attract penalties ranging from AED 50,000 to AED 500,000.
In addition, a perception that the firms' clients are engaged in unethical behaviour will make quality clients shun any association with the firm. This will create a chain of events that will hamper growth and drive potential clients to competitors.
Regulatory fines, embezzlement, and other malfeasance can be prevented by low-cost KYC checks to identify potential warning signs.
In this session we discuss:
Leveraging Data Engineering and Advanced Analytics to derive deeper insights from multiple enterprise data sources and involve customers into the product decisioning process.
A workshop on how entrepreneurs and business managers can improve decision making and a framework for applying it to their business to transform outcomes
Easier to manage your own thoughts and provides insights into positively affecting customers- Techniques for keeping the whole sales team engaged and aligned, as well as videos
Gives an understanding of financial consolidation automation, including its architecture, key issues during implementation and operation, and real-life examples from two multi-billion international clients using IBM Cognos Controller and Oracle HFM for their financial and management consolidation.
Explore the relevance of integrating strategic facility planning into overall business strategy.
The session is focusing on making sustainable transformation a business opportunity, rather than focusing on it as a business risk.
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