How to create a Compliance Program ?

A Compliance Program (CP) is a manual that contains the internal policies and procedures of a listed business. The Know Your Customer (KYC) forms are attached as appendices to the compliance program.

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What are the key elements of a Compliance Program?

The staring point is that there must be a risk based approach in the Anti-Money Laundering (AML) Compliance Program.

The four (4) pillars of an effective Anti-Money Laundering (AML) Compliance Program are:

  1. The development of internal policies, procedures, and related controls;
  2. The designation of a competent and qualified Compliance Officer;
  3. Ongoing AML training for all staff, directors of the listed business;
  4. Independent review of the Compliance Framework by a competent and qualified AML auditor.

Yes we create Compliance Programs!!

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through  Paywise or Paypal

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

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What is Wire Stripping? Free AML Training

Money launderers use wire transfers daily to move dirty cash between countries and bank accounts[1]. They also use wire transfers to distance illegal funds from their original source.  The objective is to move the dirty money from one bank account to another and from one jurisdiction to another. This makes it difficult for Law Enforcement Agencies (LEA) to trace the origin of the money.

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In executing their correspondent banking services and daily payment operation banks are now exposed to wire stripping which impacts on cross-border banking activity. The failure on the part of Financial Institutions (FI) to monitor or prevent wire stripping will render FIs unable to screen and stop payments to designated entities and individuals[2].

Wire Stripping defined

It is the deliberate act of changing or removing material information from wire payments or instructions, thus making it difficult if not impossible to identify and restrict payments to and from sanctioned individuals, entities or countries.

How is it done

FIs may conceal or simply removing true originators from transactions processed through US banks in order to avoid the sanctions-monitoring programs put in place by those institutions. The FI may weed out, tamper, or even alter the payment details of the transfer with respect to[3]:

-the ordering client;

-The beneficiary client details such as (country, address, name);

-the origin of goods and

-sea ports involved.

Some FIs even advised originating banks on how to format their transfers in a manner that would allow the transactions to avoid detection completely[4].

Result

These FIs were subjected to regulatory fines and suffered irreparable reputational damage.

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

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Sources


[1] https://www.riskscreen.com/kyc360/article/implementing-sanctions-screening-and-due-diligence-methods-for-products-and-payments/

[2] https://www.ey.com/Publication/vwLUAssets/Understanding_sanctions:_wire_stripping_-_managing_compliance_risk/%24File/1308-1124709_Wire%20Stripping%20.pdf

[3] https://www.riskscreen.com/kyc360/article/implementing-sanctions-screening-and-due-diligence-methods-for-products-and-payments/

[4] https://www.ey.com/Publication/vwLUAssets/Understanding_sanctions:_wire_stripping_-_managing_compliance_risk/%24File/1308-1124709_Wire%20Stripping%20.pdf

What are Shell Companies ?

A shell company is considered to be an incorporated company with no independent operations, significant assets, ongoing business activities, or employees. Shell companies tend to be…holding companies.[1]

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To launder money, the shell company purports to perform some service that would reasonably require its customers to often pay with cash.

The launderer then deposits the money with the shell company, which deposits it into its business bank accounts. The company then creates fake invoices and receipts to account for the cash. Such transactions create the appearance of legitimacy and clean money.

The shell company can then make withdrawals and either return the money to the initial criminal or pass the money on to further shell companies before returning it to further disguise who initially deposited the money[2].


[1] https://aml-cft.net/library/shell-company/

[2] https://www.law.cornell.edu/wex/money_laundering

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

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THE ROLE OF A COMPLIANCE OFFICER

The Compliance Officer is the primary liaison with the FIU . The identities of the Compliance and Alternate Compliance Officers must be held with the strictest confidence.

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The duties of the Compliance Officer include:

a)Creating, monitoring and updating the AML/CFT Compliance Programme to ensure continuous compliance with the legal framework. The internal controls and policies therein must be implemented by the CO.

b)Receiving and assessing SAR/STR reports made by staff members.

c) Reporting SARs/STRs to the FIU using the Suspicious Activity/Transaction Report Form within fourteen (14) days of the suspicious transaction being detection.

d)Maintaining records of internal SARs/STRs from staff.

 e)Maintaining a register of of SARs/STRs filed with the FIU.

f)Maintaining Customer Due Diligence records and transactions;

g) Monitoring the FATF list of high risk individuals and legal entities and Non-Cooperative Countries and Territories (NCCTs).

h)Monitoring the United Nations ISIL Da’esh & Al Qaida List (UN 2253 List) for persons identified as terrorists or involved in terrorist activity.

  i)Provide training to all members of staff.

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

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AMNESTY FROM PENALTIES FOR LIMITED LIABILITY COMPANIES

You have one more month to take advantage of the Amnesty from Penalties from the Registrar’s General Department for outstanding documents in Trinidad and Tobago.

The Amnesty took effect from Wednesday May 1st 2019 and will end Wednesday 31st August 2019.

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Take advantage of this chance to file:

I)Outstanding Annual Returns under Section 194 of the Companies Act (1995).

II)Notice of Secretary/Assistant Secretary (ies) or Change thereof under Section 178 of the Companies Act (1995);

III)Notice of Change of Directors or Change thereof under Section 79 of Companies Act (1995);

IV)Notice of Change of Address or Change thereof under Section 176 (2) of Companies Act (1995)

V)Notice of Execution or Termination of unanimous shareholder agreement under Section 137 (4) of Companies Act (1995)

After the amnesty, the penalty of $300.00 TTD per month WILL BE INCURRED.

Call OR Whatsapp us , Give us the name of your Company, Sign and Pay…WE DO THE REST !!

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

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What does IR mean? : AML Compliance Consultants

IR is an acronym for Intelligence Report.

An Intelligence Report is a report forwarded by the FIU to the various branches of the TTPS. This report is based on intelligence obtained from Suspicious Activity Reports (SARS) .

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The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What does CU mean: AML Compliance Consultants

CU is an acronym for Credit Union. Credit Unions are governed by the Central Bank of Trinidad and Tobago as well as the Financial Intelligence Unit (FIU).

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The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What is CFATF?: AML Compliance Consultants

CFATF-this is an acronym for Caribbean Financial Action Task Force.

Check my Youtube Channel for more:

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What is SOW?: AML Compliance Consultants

SOW is an acronym for Source of Wealth. Source of Wealth refers to the origin and the activity that generated your entire body of wealth. As distinct from Source of Funds that is concerned with the funds used for the particular transaction.

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The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What does ATA mean? AML Compliance Consultants

The acronym “ATA” stands for the “Anti-Terrorism Act”. This Act criminalizes terrorism and allows for the detection, prevention, prosecution, conviction and punishment of terrorist acts, the financing of terrorism, forfeiture and seizure of terrorists’ assets.

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The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What are the FORs? AML Compliance Consultant

The Financial Obligations Regulations were created under section 56 of the Proceeds of Crime Act (POCA). It states the measures and procedures which Reporting Entities must implement to enable them to deter and detect ML and to report suspicious transactions to the Financial Intelligence Unit (FIU).

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The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What does FATCA mean?: AML Compliance Consultants

What is FATCA?

FATCA is an acronym for Foreign Account Tax Compliance Act and it was introduced by the United States Government in 2009 to ensure that U.S. persons with financial assets outside of the United States are paying U.S taxes .

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What is the rationale behind introducing FATCA legislation?

The main objective is to obtain information on U.S. persons who may have financial assets outside of the U.S, or those U.S. persons who may be investing and earning income through financial institutions outside the United States.

Who is affected by FATCA?

U.S. citizens or U.S. registered businesses such as limited liability companies, trusts, partnerships, estates;

US individual residents, including US Green Cardholders;

US individuals who own certain foreign financial accounts or other offshore assets;

Local businesses/companies that have U.S. ownership;

FFIs- any non U.S. financial institution (an institution that accepts deposits, invests, trades securities).

What are financial Institutions required to do with respect to FATCA?

Undertake certain identification and due diligence procedures involving new customers desirous of opening new accounts;

Report annually to the Internal Revenue Service (IRS) information on customers who are U.S persons or foreign entities with substantial U.S. ownership;

Close accounts of certain customers who do not wish to cooperate with the new FATCA requirements including;

(a) Non-participating financial institutions or ;

(b) Customers who fail to provide sufficient information to determine whether or not they are a U.S. person.

Who is a U.S. person for the purposes of FATCA?

A citizen or resident of the United States, including a green card holder;

A partnership, corporation, estate, trust incorporated or created under US law (US incorporated entity);

A non U.S. incorporated entity having substantial ownership held by –an individual who was born in the US or is a US citizen/resident (including a green card holder) or has a US address or a US mailing address;

A U.S. incorporated entity.

How would I know if I am a U.S. Person under FATCA?

The following are captured in this definition:

U.S. resident or citizen including US Green Card holders;

U.S. Place of Birth;

U.S. home or mailing address;

Only address is a U.S. PO Box, C/O mail address

Power of attorney or signing authority having U.S. address

A U.S. telephone number;

Standing order to transfer funds to an account in the U.S.

What are the FATCA forms?

There are various FATCA forms that are to be completed by the Applicant:

U.S. Person Status Form (Individuals only);

Non US Person Declaration;

Non US Person /Letter of Explanation of US Address;

Waiver of Confidentiality/Data Protection for US Person.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What does AAL mean?: AML Compliance Consultants

AAL is an acronym for Attorney at Law. Lawyers are required to be registered with the Financial Intelligence Unit once they provide certain services. After registering with the FIU, a Compliance Officer and Alternate Compliance Officer must be appointed, a Compliance Program must be created.

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#amlcomplianceconsultant #trinidadonlinelawyer #asydneygroup.com #businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

PEP is an acronym for Politically Exposed Person. The FATF Recommendations require the application of additional CDD to business relationship with PEPs due to the potential risk associated with PEPs.

This does not only refer to politicians but there are different categories of PEPs:

Category 1Foreign PEP;

Category2- Domestic PEP;

Category #3 -International Organizations;

Category #4-Immediate Family Category # 5- Close associate

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

Whats app 868 373-1166 for quotation

Website: http://asydneygroup.com

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What does PEP mean? AML Compliance Consultants

What does AML mean?:AML Compliance Consultants

AML is an acronym for “Anti-Money Laundering”. Anti-Money Laundering refers to the laws and regulations that mandate supervised entities to implement measures to prevent, detect and report money laundering.

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Whatsapp 868 373-1166 for all your AML Compliance needs.

Website: http://asydneygroup.com

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

#businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

What does CO mean? : AML Compliance Consultants

Have you been selected for the position of CO in the company? I assure you that it is not a ceremonial position.

We Provide Compliance Officer outsourcing services, request a quotation today Whatsapp 868 373-1166 , Website http://asydneygroup.com

CO is an acronym for “Compliance Officer”. This is someone with a background in law, finance, management, insurance, accounting who will ensure that your company follows all the laws and regulations with respect to anti-money laundering.

See my Youtube video!! Like , Share, Subscribe.

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

#businessregistration #antoinettesydney #sydneygroup #asydneygroup #trinidad #company #companies #lawyer #caribbean #aml #fiu #cft #frm #fraudrisk #graphicdesign #tax #taxation #taxes #nis #vat #bir #fiu #compliance #complianceofficer #realestate #casinos #cardealer

SAR is an acronym for Suspicious Activity Report.

It is a report that captures details of  an alleged criminal offence committed by a client or customer of a “listed business “.

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In Trinidad and Tobago the following are “listed businesses” and  have a legal obligation to file a SAR with the Financial Intelligence Unit (FIU).

Motor Vehicles Sales;

Real Estate Agents and Companies;

Gaming Houses (Casinos)

Pool Betting;

Jewellrs;

Art Dealers;

Accountants;

Lawyers;

Independent Legal Prpfessionals;

Trust and Company Service Providers

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

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What does SAR mean?: AML Expert

SOF is an acronym for Source of Funds. Source of funds refers to the origin of the particular funds or other assets which are the subject of the business relationship between the client and the financial institution or listed business. (e.g., the amounts being invested, deposited, or wired as part of the business relationship).

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: http://asydneygroup.com

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company

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SOF Defined!! AML Compliance Consultants

NPO Defined !! AML Compliance Consultants

NPO is an acronym for “Non-Profit Organisation”. This is an institution that is designed to pursue a certain purpose. The focus is not on making a profit as distinct from a limited liability company.

In Trinidad and Tobago, there is no comprehensive law governing NPOs and they are often abused and used to finance terrorism.

For all your AML/FIU Compliance Needs Whatsapp 868 373-1166

Website: http://asydneygroup.com

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

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Gift Guidance Not Career Guidance

Young people do not do a degree without a plan!! You will end up unemployed and mentally distressed. A degree requires at least 3 years of study and sacrifice. Imagine being unable to find a job after that. Student debt is a reality.

My humble advice is to find your gift. Your gift is what you do with the least effort and it ignites your passion. Your calling or what the Universe has bestowed upon you. Your education should refine your gift. It is important that you try different things. Take that summer job in the supermarket. It will teach you communication skills.

Say yes to unpaid internships, explore the world of business. Find out what you like. Find yourself. Create a plan to take a course of a degree that will teach sharpen your skills.

There are many free courses in Trinidad, YouTube is a free online learning platform if used wisely. There are short courses that you can complete and you will earn more than your counterparts who did a degree in a field that they have no interest in.

The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in FIU/AML Compliance.

Services include:

AML/FIU Training;

AML Audits;

Compliance Officer Outsourcing;

Drafting of Compliance Program

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management; Graphic Design

ACO is an acronym for “Alternate Compliance Officer”. Every listed business in Trinidad and Tobago is required to have an Alternate Compliance Officer as well as a Compliance Officer (CO).

The ACO acts as the liaison with the FIU only when the CO is on vacation or unavailable for an extended period of time.

Check out my Youtube video

For all your AML/FIU Compliance needs contact 868 373-1166

Website: http://asydneygroup.com

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

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What does ACO mean?AML Compliance Consultants

The Financial Intelligence Unit (FIU) is the  primary institution for the collection of financial intelligence and information and the analysis, dissemination, and exchange of such financial intelligence this will also include information among law enforcement authorities, financial institution and listed businesses.

Check out my Youtube video!!

The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in Anti-Money Laundering and FIU Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Taxation;

Corporate Training;

Graphic Design.

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What does the FIU mean?AML Compliance Consultants

Time to Change: Your Season is here!!!!

I have been blessed by 10 butterflies this week. Butterflies are in abundance, have you noticed? Fluttering with the wind they dance with nature. The Universe is talking to you.

I approached my home and saw my neighbor who always calls me “young lady”. He had long hair but about a year ago he cut it. I usually comment on his hair growth and he smiles as he sips his coffee. Today , I asked him if he noticed a lot of butterflies lately. He advised me that the butterflies are a sign that the seasons of your life are changing.

If you know me personally, I am easily fascinated by learning new information. My mind was blown. I walked home confident that my season is here.

Young man, young woman, your time is now. Make no excuses. This is your life. Your season has arrived, your life will change in a positive way. In all things, give thanks.

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in AML Compliance.

Services range from AML Training, AML Audits, Drafting AML Compliance Programs, Consulting.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management; Graphic Design

Check out my Youtube Channel

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See a Need,Fill a Need: How to Generate Business Ideas

Your million dollar business idea is one problem away. If you are looking for an idea to start a business, look around at problems that you face. Is there a way to improve it or make your life easier?

Make a note of things that you can create based on current needs . Look at the billionaires of our time . They have created immense value by improving communication through technology. The identified a need and invented solutions that are constantly updated and improved .

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The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

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This is not a financial audit, instead it is an assessment of the compliance or noncompliance or noncompliance with anti-money laundering laws and regulations.

Check out my New Youtube Video!!!

The AML audit must be competent to undertake this assessment by having qualifications and experience in anti-money laundering.

Sometimes the Financial Intelligence unit will instruct a listed business to hire an anti-money laundering auditor, at the expenses of the listed business

Check out my new Youtube video!!

The author is the first Online Lawyer based in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

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What is an AML Audit?AML Compliance Consultants

What is an AML Compliance Officer?AML Compliance Consultants

This is someone with a background in law, finance, management, insurance, accounting who will ensure that your company follows all the laws and regulations with respect to anti money laundering .

Check out my New Youtube video!!!!

Ebooks available for only $100TTD !

Payment through Wipay or Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company.

The author is the first Online Lawyer based in Trinidad and Tobago. I She specializes in Corporate Law and Financial Crimes.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

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How to Register with the Financial Intelligence Unit (FIU) in Trinidad?AML Compliance Consultants

What is the FIU?

The FIU is the  primary institution for the collection of financial intelligence and information and the analysis, dissemination, and exchange of such financial intelligence this will also include information among law enforcement authorities, financial institution and listed businesses .

Which businesses are required to register with the FIU?

Non Regulated Financial Institutions[3]

  • Credit Union
  • Building Society
  • Money or Value Transfer Services

Listed Businesses[4]

  • Motor Vehicle Sales
  • Real Estate
  • Gaming House
  • Pool Betting
  • National Lotteries On-Line Betting Games
  • Jeweler
  • A Private Members’ Club
  •  An Art Dealer
  • An Accountant, an Attorney-at-law or other Independent Legal Professional
  • Trust and Company Service Providers 

The FIU Form RG 1 must be printed from the FIU website and completed. This form must be submitted to the office of the Financial Intelligence Unit within three months of the registration of the company or business. Within 14 days the FIU will confirm receipt of your registration documents by email or phone call. The FIU will indicate whether your certificate is ready for collection.

What is the penalty for failing to register with the FIU?

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Ebooks on Sale for only $100TTD:

Payment through Paypal, Wipay, Western Union and MoneyGram.

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

1]http://www.investopedia.com/terms/a/aml.asp

2]http://www.fiu.gov.tt/about_fiu.php?mid=3

3]http://www.fiu.gov.tt/about_fiu.php?mid=4

[4]http://www.fiu.gov.tt/about_fiu.php?mid=4

You should definitely use contracts often in your business. This helps you to secure your investment and ensure that the other parties fulfill their obligations.

Check out my new Youtube video on “How to Make a Contract”

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

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How to Make a Contract?

How to do a Cash Flow Statement ?

There are 2 important aspects of a Cash Flow Projection:

1.An estimation of the total income that the business will receive in 1 month;

2.An estimation of all the expenses incurred by the business in 1 month.

For assistance with Cash Flow projections call Sydney 868 373-1166

Income

In order to determine the income that your business generates, you should be keeping a great record of all the money that you receive. It can be as simple as having a receipt book or using an excel sheet to list the amount of money earned. It can be more sophisticated by using accounting software or an application on your phone. As a business owner you must keep track of all the cash earned in order to determine how to make improvements to ensure that the business is sustainable.

For assistance with Cash Flow projections call Sydney 868 373-1166

Expenses

You should also have a well maintained record of the money that you are spending to further the business. You may keep a folder to store all receipts and log the respective sums in it. You may find that some expenses are fixed and are incurred monthly. Some examples of expenses are travelling expenses, raw materials.

For assistance with Cash Flow projections call Sydney 868 373-1166

You will basically subtract your expenses from your income to show whether the business is making a profit or a loss.

Ebooks available for only $100TTD !

Payment through Paywise and Paypal!

Ebooks on Sale:

How to Register a Sole Trader;

How to De-Register a Sole Trader;

How to Register a Partnership;

How to Change from a Sole Trader to a Limited Liability Company Trinidad;

How to Dissolve a Limited Liability Company;

The author is an attorney at law based in Trinidad and Tobago. Please see: http://asydneygroup.com 

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Call or whatsapp 373-1166