ABM Global Compliance provides the Compliance Advisory Service (Internal Audit) on the overall activities of a Money Transfer Business in Germany.

The Fourth EU Anti-Money Laundering Directive, reforms and completely restates the former version of the German Anti-Money Laundering Act (GwG).

Compliance outsourcing:

We are aware that the range, scope and style in which a compliance audit can be executed may vary extensively from organisation to organisation, which is why we insist that we have a meeting at the very beginning to determine and define the precise scope of work you require.

Our continuous monitoring and overseeing on the regular transactions of the branch ensures that staff and the management are always in line with the payment services regulations and ready to face any investigation from the authorities at any time.

The scope of our Compliance Advisory Service and internal audit are:

  • Providing advice on the identity of the company or branch in BaFin and Central Registry office.
  • Advice and Testing CDD, EDD, Risk Assessment, F & P Test as according to the BaFin, Federal Ministry of Finance, Financial Intelligence Unit of Germany.
  • Preparation of staff training Manual. Records and testing the standards of Training.
  • Developing Suspicious Activity Reporting (SAR's) system and train up the nominated officer on how to report to Financial Intelligence Unit of Germany. Explaining the practical implications.
  • Testing and verification of Record keeping procedures and records as according to Geldwäschegesetz – GwG (Germany).
  • Preparation & Testing the Risk Assessment and management procedures.
  • Developing & Testing the internal control, the monitoring and management of compliance.
  • Advice on the procedures of the internal communication of such policies and procedures.
  • Advice on Safeguarding client fund as according to the German ML Act.
  • Compliance and regular update of the regulations from all relevant.

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