AML software called LiveEx-Shield has been very successful in assisting DNFBPs and FIs in completing their legal duties and preventing financial crimes.A tiny accounting firm that was having trouble complying with the intricate AML laws is one success story. The clientele of the accounting firm had increased in recent years as a result of the firm’s growth.They understood that they needed to put in place an AML program to adhere to regulations and safeguard themselves against financial crimes, but they lacked the means and knowledge to do so.
The software also provided them with a comprehensive reporting system, enabling them to produce audit trails, transaction reports, and suspicious activity reports (SARs) to demonstrate their compliance with regulations.Since implementing LiveEx-Shield, the accounting firm has been able to detect and prevent potential money laundering and terrorist financing activities. The software has helped them identify high-risk clients and transactions and ensure that all suspicious activities are reported to the relevant authorities.
After conducting research, the accounting firm chose LiveEx-Shield as their AML software provider. LiveEx-Shield worked closely with the accounting firm’s compliance team to understand their specific needs and develop a tailored solution.LiveEx-Shield provided the accounting firm with tools for customer due diligence, transaction monitoring, compliance reporting, risk assessment, and ongoing monitoring. The software was customized to integrate with the accounting firm’s existing systems and workflows, making it easy for them to manage their AML program.LiveEx-Shield’s AML software helped the accounting firm to identify and verify their clients’ identities, screen them against sanctions lists and politically exposed persons databases, and monitor their transactions for suspicious activities.
The accounting firm has also experienced significant operational efficiencies since implementing LiveEx-Shield. The software has streamlined their compliance processes, reducing the time and resources required to manage their AML program. They have been able to focus on serving their clients’ needs while also meeting regulatory requirements. LiveEx-Shield’s AML software has been a great success for the accounting firm. The software has helped them comply with regulations, protect their reputation, and operate more efficiently. As a result, the accounting firm has been able to grow its business and provide
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