Prevention of terrorism financing

Gfi EAST > Sectors > Finance > Prevention of terrorism financing

Systems in the fight against terrorism

Successive EU AML directives broaden the scope of activities related to counteracting the financing of terrorism and broaden the list of institutions obliged to comply with them.

The category of obliged institutions includes, among others, banks, branches of foreign banks, branches of credit institutions, financial institutions, payment institutions, electronic money institutions, investment firms, trust banks, investment funds, insurance companies, entrepreneurs running currency exchange services (including online currency exchange services), pawnshops, entities providing services and intermediaries in the field of virtual currency exchange, real estate agents, associations with legal personality – accepting payments in cash with a minimum value of PLN 1.5 billion. 10 000 euro.

Functionalities

  • Analysis and suspension of transactions
  • Risk assessment of cooperation with specific customers
  • Verification on penalty lists
  • Alert handling

Process support

  • Transaction monitoring
  • Verification of counterparties
  • Compliance processes

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Wolfgang Veith

My focus at IMPAQ is to provide compliance solutions for financial institutions and corporations. I analyze the needs of the customers and offer tailor-made solutions, through the kdprevent Platform. Furthermore, I can point out the strategy for a long-term orientation of a professional compliance organization.