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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.
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.
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.