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02/10/2007

Auditors willing to implement an efficient AML-CFT solution

The IRE in Luxembourg, which is the regulatory body for auditors, has initiated an ambitious project to reinforce AML in the Luxembourg financial centre.
The project, which is called "Side Safe Watch", is in the framework of the KYC requirements.

Side product, SafeWatch, allows automated Anti-Money Laundering (AML) checking on the complete financial flow, regardless of origin and transport through a fully configurable and scaleable enterprise solution, strengthening AML compliance.
SafeWatch helps in preventing emission of outgoing and processing of incoming messages/data referring to black listed entities. The enterprise server can simultaneously analyze a large variety of sources: text files, real-time flows, SWIFT messages, MQ Series, Database tables... all detections are sent to the central SafeWatch monitoring station, and users are automatically notified of alerts by e-mail.

The application emphasizes on enterprise-wide features:
• Complete auditing
• Strong security management
• Full reporting

This project is developed by external auditors (and chartered accountants) in independence with their auditees that are not invited in the project group.


See information

07:05 Posted in Luxembourg | Permalink | Comments (0)

02/03/2007

Overview of the UN Conventions and Other International Standards Concerning Anti-Money Laundering and Countering the Financing of Terrorism

IMoLIN is an Internet-based network assisting governments, organizations and individuals in the fight against money laundering. IMoLIN has been developed with the cooperation of the world’s leading anti-money laundering organizations. It issued a nex document providing an verview of the UN Conventions and Other International Standards Concerning Anti-Money Laundering and Countering the Financing of Terrorism.

See document

13:00 Posted in General | Permalink | Comments (0)

Internet resource on money laundering issues, laws and regulations in Ireland

The website, www.antimoneylaundering.ie, is run by Peter Oakes. Peter is Principal and founder of Compliance Ireland, a specialist regulatory consulting and training business for Irish and UK financial firms and professionals. Peter is admitted to the rolls of solicitors in England & Wales, the Republic of Ireland and Australia (New South Wales). Although qualifying as a solicitor, Peter now practises as a regulatory & management consultant, business coach and trainer, particularly in the areas of financial services (e.g. banking, credit unions, other credit providers, insurance, brokers & mutual funds), data protection and general business consulting to enterprises of all sizes. Peter is available to serve as a non-executive director on the boards of corporations and mutual funds to assist these bodies meet their corporate and regulatory governance requirements.

The website provides the latest information about the money laundering issues, laws and regulations in Ireland.

See website

07:38 Posted in Ireland | Permalink | Comments (1)