Get going detective!

a very suspicious picture exposing that the illuminati control the world

Thematic review update

The FIU and other organizations in the UAE have published a Thematic Review on Suspicious Activity and Transaction Reporting Framework. This report highlights the latest and greatest strategies to detect and report potentially suspicious activity.

Who is it for?

Considering the current scenario, everyone!

Hmm…what does it talk about?

Implementation of automated AND /manual processes to ensure effective screening. And clear accountability to staff, providing sufficient controls and monitoring tools, and developing procedures for investigating and processing alerts.

Also,

Don’t forget to have fun with it! Pre-implementation testing of TM systems using historical transaction data can be very interesting, and utilizing appropriate tools to detect AML/CFT risks and identify potential outliers or deviations from normal policy is like playing detective. All while ensuring a highly compliant company and country.

FSRA: FCCP - Notice No. 9 of 2023 - Requirement to conduct an Institutional Terrorist Financing (TF) and Proliferation Financing (PF) Risk Assessment

Are you a financial institution operating under the jurisdiction of the ADGM? Then listen up, because the FATF has revised its Recommendation 1, which means you need to up your game when it comes to identifying and mitigating your Terrorist Financing and Proliferation Financing (TF/PF) risks.

Don't worry, it's not as daunting as it sounds. 

You just need to make sure your risk assessment is documented, up to date, and appropriate for your business. Oh, and make sure senior management approves your policies, controls, and procedures to manage and mitigate those pesky TF and PF risks.

Remember, risk assessment is an ongoing process, so stay vigilant and adapt to new risks as they arise. And if you want to learn more, check out the published circular here.