Naeem & Co chartered accountants is a leading provider of anti-money laundering (AML) services in Pakistan. We offer a range of services to help our clients prevent, detect and report money laundering and terrorist financing activities and comply with the AML/CFT/CPF regulations issued by the State Bank of Pakistan (SBP) and other authorities.
Our AML services include:
– AML risk assessment and gap analysis:
We conduct a comprehensive assessment of our clients’ AML risks and gaps based on their business nature, size, complexity, products, services, customers, jurisdictions, etc. We also benchmark their AML policies, procedures and controls against the applicable laws, regulations and best practices. We provide recommendations and action plans to address the identified risks and gaps and enhance their AML compliance framework.
– AML policy and procedure development:
We assist our clients in developing and updating their AML policies and procedures in line with the AML/CFT/CPF regulations and the international standards. We also help them implement their AML policies and procedures effectively and efficiently across their organization.
– AML training and awareness:
We provide customized AML training and awareness programs to our clients’ staff, management and board of directors. We cover various topics such as AML concepts, principles, obligations, red flags, typologies, case studies, etc. We also conduct periodic assessments and evaluations to measure the effectiveness of the training and awareness programs.
– AML customer due diligence (CDD) and transaction monitoring:
We assist our clients in performing CDD on their customers, including identifying, verifying, screening and risk-rating them. We also assist them in conducting enhanced due diligence (EDD) on high-risk customers, such as politically exposed persons (PEPs), non-resident customers, etc. We also assist them in monitoring their customers’ transactions for any unusual or suspicious activities and generating alerts for further investigation.
– AML reporting and record keeping:
We assist our clients in preparing and filing various AML reports with the Financial Monitoring Unit (FMU) and other authorities, such as currency transaction reports (CTRs), suspicious transaction reports (STRs), cross-border transaction reports (CBTRs), etc. We also assist them in maintaining proper records of their customers’ identification documents, transactions, CDD information, AML reports, etc., as required by the law.
– AML audit and review:
We conduct independent AML audits and reviews of our clients’ AML compliance framework to evaluate its adequacy, effectiveness and efficiency. We also identify any weaknesses or deficiencies in their AML policies, procedures and controls and provide recommendations for improvement. We also assist them in preparing for and responding to any external AML audits or inspections by the regulators or other authorities.
Why Choose Us?
At Naeem & Co chartered accountants, we have a team of qualified and experienced professionals who are well-versed with the AML laws, regulations and best practices in Pakistan and internationally. We also use modern technology.
