AML & CTF

AML

The estimated amount laundered globally each year is 2-5% of global GDP. That is somewhere between USD 800 billion and USD 2 trillion. This is just a low estimate. Money laundering is often linked to activities such as smuggling, illegal arms sales, embezzlement, insider trading and bribery. But it is also very common with organized crime including trafficking in human beings, weapons and drugs as well as prostitution networks. However, it is often simpler and can be associated with performing tasks – for example a craftsman – who do not disclose the income that has occurred by cash settlement (without invoice)

Anti-money laundering is closely linked to the Counter-Financing of Terrorism (CFT), which financial institutions use to combat terrorist financing. The AML rules link money laundering (source of funding) with terrorist financing (destination of funds).

CTF

Compliance covers the discipline of complying with applicable regulatory frameworks. At Howart Compliance, we are a team of compliance experts with extensive experience from financial services across the Nordics and from a broad range of complex consulting engagements.

We help our clients identify and mitigate risks and weaknesses in their organisation, as well as keeping abreast of the latest legislation.

Based on many years of operational experience and industry insight, we can optimise internal controls, business processes and documentation procedures to ensure compliance with regulatory frameworks and legislation.

Co-sourcing AML/CTF

Through co-sourcing, companies may delegate certain parts of a function, process, or recurring activity. Your company is able to complement the business with expertise, resources, independence and continuity while retaining overall responsibility and control.

As an effect of new and challenging rules, issued sanction decisions and the fact that AML/CTF is now a hot topic in media and society at large – it is certainly a challenge for many to find the right competence within AML/CTF. In small and medium sized companies, it may not always be cost efficient to hire such a narrow specialist.

Through co-sourcing, the company can maintain control of the function while at the same time strengthening its independence, ensuring continuity, increased accessibility and both deeper and wider competence.

Contact us to hear more about AML & CTF

Nikolaj Klein

Partner

Let us be your partner in AML

We ease the burden of compliance

Regulatory Compliance

Do you need regulatory support? We provide assistance to our clients by screening new legislative proposals and regulatory frameworks. Though our proactive approach, we enable our clients to be on top of their regulatory compliance and focus on their core business by providing a balance between regulatory requirements and business priorities.

Policies & Procedures

At Howart Compliance, we work actively to optimise business processes for you, enabling you comply with new regulatory frameworks and always comply with applicable legislation. Our experts have the operational industry experience to support you in complying with documentation requirements, information requirements to public authorities as well as risk management and reporting to the competent authorities.

AML & CTF

At Howart Compliance, we assist clients in combating money laundering and terror financing (AML & CTF) by providing regulatory guidance and implementing best practice business processes and internal controls. From formal descriptions to implementation and ongoing support, we assist our clients in balancing between regulatory requirements and business considerations through our innovative approach to technological advances, regtech deliverables and intelligent consulting engagements.