Is Your Business a DNFBP? Here's What You Need to Know
Understanding whether your business falls under the category of Designated Non-Financial Businesses and Professions (DNFBPs) is essential for compliance purposes. DNFBPs include various sectors such as real estate agents, lawyers, accountants, trust and company service providers, dealers in precious metals and stones, investment consultants, and family offices.
The classification of consultancy licenses as DNFBPs are subject to various regulatory frameworks, depending on the jurisdictions and type of activity some activities may be required to implement anti-money laundering practices.
License applications
At VAF Compliance, our dedicated DNFBP practice ensures (or guarantees??) that your business satisfies all regulatory obligations. We perform crucial tasks to safeguard your business, freeing you to concentrate on your main operations while we handle compliance duties.
Our comprehensive services include:
Outsourced Compliance Officer: Our experienced professionals can handle all operational tasks on your behalf, including KYC processes, goAML reports, and transaction monitoring. With our expertise, you can trust that your compliance activities are executed diligently and efficiently.
Policy Development: We specialize in crafting robust AML/CFT policies, KYC policies, and Supply Chain policies tailored to your specific business needs. Our well-defined policies ensure that your operations align with regulatory expectations.
AML Training: Our engaging AML training programs equip your staff with the knowledge and skills necessary to detect and prevent money laundering and terrorist financing activities. We offer customized training sessions that cater to the unique requirements of your business.
Outsourced Compliance Officer
At VAF Compliance, our dedicated DNFBP practice ensures that your business satisfies all regulatory obligations. We perform crucial tasks diligently and efficiently to safeguard your business, freeing you to concentrate on your main operations while we handle compliance duties.
Our experienced professionals can handle all your operational tasks on your behalf, including KYC processes, goAML reports, and transaction monitoring.
We specialize in crafting robust AML/CFT policies, KYC policies, and Supply Chain policies amongst other, tailored to your specific business needs. Our well-defined policies ensure that your operations align with regulatory expectations.
Our engaging AML training programs equip your staff with the knowledge and skills necessary to detect and prevent money laundering and terrorist financing activities. We offer customized training sessions that cater to the unique requirements of your business.
License applications
At VAF Compliance, our dedicated DNFBP practice ensures (or guarantees??) that your business satisfies all regulatory obligations. We perform crucial tasks to safeguard your business, freeing you to concentrate on your main operations while we handle compliance duties.
Our comprehensive services include:
Outsourced Compliance Officer: Our experienced professionals can handle all operational tasks on your behalf, including KYC processes, goAML reports, and transaction monitoring. With our expertise, you can trust that your compliance activities are executed diligently and efficiently.
Policy Development: We specialize in crafting robust AML/CFT policies, KYC policies, and Supply Chain policies tailored to your specific business needs. Our well-defined policies ensure that your operations align with regulatory expectations.
AML Training: Our engaging AML training programs equip your staff with the knowledge and skills necessary to detect and prevent money laundering and terrorist financing activities. We offer customized training sessions that cater to the unique requirements of your business.
Compliance Services
We provide independent audits of your compliance program to assess its effectiveness and identify areas for improvement. Our thorough analysis ensures that your program meets regulatory requirements and industry best practices.
Our experts assess your existing policies and assist in developing robust AML/CFT policies, KYC policies, and other compliance-related policies.
We help you develop an enterprise risk matrix that enables a risk-based approach to compliance being able to protect your business from money laundering and other business risks.
Our team assists in preparing and submitting periodic reports to regulatory authorities. We ensure that your reports are accurate, timely, and comply with regulatory guidelines, maintaining transparency and demonstrating your commitment to compliance.
Designated Non-Financial Businesses and Professions (DNFBPs)
Our experienced team offers a comprehensive range of services to support your compliance needs:
Independent Compliance Program Audit: We provide independent audits of your compliance program to assess its effectiveness and identify areas for improvement. Our thorough analysis ensures that your program meets regulatory requirements and industry best practices.
Policy Assessment: Our experts assess your existing policies and assist in developing robust AML/CFT policies, KYC policies, and other compliance-related policies.
Enterprise Risk Matrix Development: We help you develop an enterprise risk matrix that enables a risk-based approach to compliance being able to protect your business from money laundering and other business risks.
Periodic Reporting to Regulators: Our team assists in preparing and submitting periodic reports to regulatory authorities. We ensure that your reports are accurate, timely, and comply with regulatory guidelines, maintaining transparency and demonstrating your commitment to compliance.
Use Cases
Gold & Precious Metal Trader
Learn More
Gold & Precious Metal Trader
Gold & Precious Metal trading firms require AML Policies, Supply Chain and Responsible Gold Sourcing policies, and KYC Protocols implemented
Real estate agents
Learn More
Real estate agents
Real estate agents and brokers can accept cash payments for sales, leases or renting deals, however it is necessary to submit reports to the regulator identifying those deals.
Law firms & Notaries
Learn More
Law firms & Notaries
Law firms and Notaries must conduct thorough due diligence and implement the most stringent onboarding protocols
CSPs & Accountants
Learn More
CSPs & Accountants
Accounting firms and Trust & Corporate Service Providers are especially exposed to geographical risk, it is key to establish a risk matrix to protect the activity from onboarding clients originating from high risk or conflict areas.
Take the first step toward enhanced compliance and operational excellence.