ComplianceAsia has partnered with Suzanne Callister in forming AML Services Limited to specifically assist with compliance with the new provisions of the Anti-Money Laundering(AML) Ordinance that come into effect on 1 March 2018. With this new Ordinance, company secretarial firms and incorporation agents, real estate agents, accountants and law firms and other designated non-financial businesses and professions will need to fully comply with the same provisions in relation to anti-money laundering and countering terrorist financing that applies to financial services firms in Hong Kong.
AML Services Limited provides model policies and procedures, client take on documentation, sanction and other client risk assessment and screening services all the way to a fully outsourced client take-on arrangement and documentation storage. With our scale, the services are exceptionally cost-effective while remaining fully compliant with the law.
ComplianceAsia has been advising on financial services clients on these rules since the inception of the AML Ordinance and is using that experience to roll out dedicated services to these new sectors now impacted by the extension of this law. “We are pleased to roll out a group company dedicated to ensuring full and cost-effective compliance with the new AML regime. We have worked with these rules for our broking and asset management clients for a long time and the extension into other industry sectors is something we can apply that experience to” said Alex Duperouzel, Managing Director of the new entity.
Spending her whole career in the corporate, trust and fund industry worldwide, Suzanne Callister understands the challenges faced by TCSP & real estate professionals plus the need to allow a business to comply with regulations whilst being cost-effective for stakeholders. “Escalating compliance personnel costs, the need to provide a compliance framework with contributing independent experts has driven us to design an efficient, flexible and secure solution. AML Services will guide companies when the Hong Kong regulations come into force and support their future growth to allow them to be fully compliant.” said Suzanne Callister.