AML & KYC - GAP Analysis

Written By OSMIA CONSULTING

Ensuring adherence to anti-money laundering and counter-terrorism financing regulations, commonly referred to as AML/FT, is a critical aspect of your day-to-day responsibilities.

Sanctions for regulatory or legal infractions include warnings, public statements, suspension or revocation of your authorization, as well as fines.

Who is impacted ?
✓ Financial professionals subject to CSSF supervision, such as Management Companies, AIFM, credit institutions, SIF, UCITS, SICAR, payments institutions, central administrators ...
✓ Financial professionals subject to AED supervision such as RAIF
✓ Insurance undertakings licensed or authorized to exercise their activities in Luxembourg as well as the professionals of the insurance sector
✓ Family offices
✓ Other professionals (mainly accountants, real estate agents, notaries, lawyers)

What are the main obligations ?
✓ Perform an AML risk assessment
✓ Perform a country risk assessment
✓ Carry out customer due diligences (on investors and counterparties)
✓ Implement policies and procedures
✓ Report suspicious activities
✓ Receive regular training

How can Osmia Consulting assist you ?

  • Assess your AML-KYC risk by conducting a gap analysis

  • Train your teams on AML-KYC topics

  • Stay informed about any new regulatory and legal developments

  • Keep your policies and procedures up-to-date

  • Organize your due diligences in an efficient way

  • RC – RR – find your MLRO or responsible officer

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