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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Sydney Group is Celebrating our First Anniversary of blogging on WordPress

What is now proven was once a thought. I always wanted to be a blogger, but I feared that I would soon run out of topics. I did not want to start the project, then abandon it when ideas were scarce. But the opposite happened, as I immersed myself in writing the universe provided me with ideas weekly. I am now able to research new topics and prepare a presentation. It takes a certain level of commitment to produce one blog post weekly. Regardless of the occurrences of the week, I try to ensure that I have content to share. If I fail one or two weeks out of the year, please forgive me. I anticipated that there would be challenges in building a readership. I celebrated when my post was viewed by one person within 5 days of my posting. One year later I got 6 likes immediately after posting and this was a huge achievement for me.
I am aware that there are full time bloggers who have dedicated their time to provide you with timely posts. I am not yet in a position to do that, so please accept my blog posts as a sneak peek into my life. I invite you to continue reading my posts as I expand my knowledge base thereby generating additional posts. I am involved in many projects at this time, but my favourite project is blogging on this forum, WordPress. It is a great way to create an archive of your life week by week. People from all around the world view my posts, and I smile with each view.
It pleases me greatly when my friends or relatives strike up a conversation with me about one of my posts. The mere fact that they took 2 minutes out of their busy schedules to read my content means a lot to me. Last year I covered a range of topics from company registration, to wills to motivational posts. I take great pride in my writing. It was a challenge at first when I received no views or likes, but I decided to keep writing. That way when I did in fact develop a readership, they could return to my previous posts. Imagine 10 years from now, I can look back at these weekly entries and smile that it was recorded. I personally write my blogs and I am giving you a taste of the world through the eyes of a young, black, and woman.
The author is an attorney at law from Trinidad. She specializes in Anti Money Laundering ,Countering the Financing of Terrorism and Financial Ctimes.
Please see the website: http://asydneygroup.com
Instagram @asydneygrouptt
Whats App 1 868 373-1166

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No delay in the game

How much of human life is lost in waiting? Do not wait until the timing is perfect. Proceed with your plans . Time waits on no one . Plan and execute. You have to state your intentions to the world and put it out in the universe. It will come back to you. The elements will line themselves up. Everything will fall into place. Start today,baby steps .Do not wait until the time is right. Do not wait for conditions to be favourable,just proceed and they will follow your lead. You have to guide the way ,you will become weary in waiting . Plan ,execute and repeat . Write your plans down for your records and tell your friends about it to remain accountable . Press on.

Do not blow up too quickly: Enjoy the entrepreneurial ride

Do not expand to quickly, you may implode. I was contacted by a representative of a local telecommunications service  provider. He tried to convince me to advertise in  the local telephone directory. That way ,he said, I would attract new prospects. At the time I was discussing this proposition with a brilliant business professional. She asked me what I would do with all those incoming calls . She said that I may be overwhelmed and I agreed. The telephone directory also has an online version, the result is double exposure. I carefully considered the advice and I told the representative that I may contact him in the next 5 years.

I have been binge watching comedy series from the 80’s and 90’s. While watching an episode of “Sister,Sister” Lisa started a business, she made dresses and offered them for sale. Her first customer bought a dress and Lisa felt invincible. She started planning to attract new customers. She called the media houses and asked for quotations to place advertisements. She was advised by Ray that she should take it slowly and not expand too quickly. Lisa placed the advertisement and the same client came knocking on her door.Ray answered the door and gave the first customer a full cash refund and accepted the dress that she wanted to return. He hid the dress that was returned in order to protect Lisa’s feelings. Lisa was upset when she discovered the truth but she was determined to bring her dream to pass. She realised that she needed to conduct the business on a small scale then ,eventually she would expand.

I recalled a conversation with one of my clients , he indicated that equipment should not be purchased unless a contract was secured. He said that a business must be gradually expanded , creep then walk.

I want to appeal to you ,although you may be ambitious, life will knock your socks off. Be patient, trust the process. Do not take loans to acquire equipment if it seems that work is not forthcoming. The equipment has a minimum of 6 months warranty. In the event that you do not get any clients, you will not have cause to use the equipment and detect any flaws. The warranty may expire before you get a client. You will then have to pay to repair or replace the equipment. Should you decide to sell the equipment, you will lose money because of depreciation.

Remember success is 1% inspiration and 99% persistence , so please learn as much as you can, acquire contracts then expand,in that order.

About the Author:

A.Sydney is an attorney at law in Trinidad and Tobago. She specializes in AML/CFT//Tax Compliance, and provides Corporate Secretarial Services to local and international giants in various industries. Feel free to explore the website for her portfolio of companies and add her on social media:

Website:http://asydneygroup.com

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WhatsApp only 868 373-1166