Compliance Solutions Ecosystem

Your company is required to have unique written AML Policies and Procedures corresponding to your specific business model and risks posed by your clientele, services and products that you are providing. Financial, gambling, trading and crypto companies need different tools as well as different AML procedures.

Our ACAMS and ICA certified AML experts can assist you with reviewing, proofreading your current AML Program or designing entirely new Policies and Procedures and Risk Scoring Model, that will be relevant to your business, ever-changing regulatory requirements and industry best practices.

At ZeroTolerance we can also provide you separate consultations on practicalities of the AML requirements, risk assessments, filing of suspicious activity and transactions reporting, case management systems and processes, integration and tuning of AML software and any other compliance issues that you might face.

To ensure that your company is fully compliant with the relevant AML requirements you need to implement and tailor AML technologies with your AML Policies and Procedures.

At ZeroTolerance we help to implement and design the following technologies:

• KYC/KYB - Identity Verification
  
• Watchlist, PEP and Sanctions Screening
  
• KYT - Transaction Screening and Monitoring
  
• Suspicious Activity and Transactions Reporting
  

These technologies should be configured according to the risk-scoring model stipulated by your Policies and Procedures.

Proper tuning of the technologies significantly reduces the manual workflow, compliance costs, increasing accuracy of AML alerts and overall quality of compliance efficiency.

At ZeroTolerance we have a team of ACAMS certified experts, specifically trained to evaluate the state of your company compliance to make sure that it is tuned to the expectations of regulators.

The financial and other AML-responsible companies (such as gambling companies, attorneys, high-value items dealers, etc.) are subject to a set of AML requirements with regard to their employees. They are required to conduct regular training on AML-related regulations for customer-facing and operations staff, compliance officers, and management, explaining their AML roles and functions within the company.

The regulators explicitly require the companies to conduct training and seek evidence of their completion with regard to all AML-related employees (customer-facing and operations staff, compliance officers, and management) on specific AML-related issues.

At ZeroTolerance our team members have extensive AML background having practiced at Big Four firms, regulatory agencies, including ACAMS certified experts that are qualified trainers assist the companies with the development, implementation & delivery of the AML training that is fully customized to the company's business model, compliance function of trainees, regulatory requirements, and internal procedures.

At ZeroTolerance we conduct AML trainings both for junior associates and CCO trainings for AMLRO and chief compliance officers. These have proved themselves by improving compliance department efficiency by 20-40 percent and reducing relevant costs by up to 40%.

Financial regulators as well as banks often request to provide an independent audit report of AML policies and procedures as well as their actual implementation.

We conduct AML audits according to global best practices of Big-4 firms and provide reports within 2 to 3 weeks, providing performance score and recommendations for improvement. We also provide follow-up assistance for proper implementation of the recommendations and plugging all the gaps.

At ZeroTolerance our team members include ACAMS certified experts that have extensive AML background having practiced at Big Four firms, regulatory agencies. Our AML audit reports are accepted and recognized by leading banks and financial regulators in the EU, UK, US and Asia-Pacific regions.

ZeroTolerance provides the best-on-market AI-powered KYC and KYB technology with the fastest go-to-market timelapse. Easy to API integrate, we provide not only сustomer verification but the whole compliance flow in 1 platform.

ZeroTolerance is here to help you expand internationally. We cover documents across 200+ countries. These documents are accepted and checked automatically in many different languages, including Latin, Cyrillic, Arabic, and hieroglyphic-based ones. All the documents are transliterated into Latin script in accordance with local rules.

We provide verification of digital identity, through more than 7000 databases, as well as the database of over 400M trusted identities, known association through public data, social network analysis, deep web, dark web and other private data sources in real-time. Our machine learning and graph intelligence allow you to see connections with untrusted entities and patterns that might reflect fraud.

ZeroTolerance is ready to assist you in conducting the appropriate ongoing AML monitoring as well as Watchlist and PEP screening to ensure compliance with your local and international AML requirements.

AML regulations are sure to require financial institutions, crypto, online gaming and gambling companies to carry out reliable customer due diligence as part of their Customer Identification Program, including identity verification on all customers and individual/corporate clients. To be in line with AML requirements, institutions are obliged to constantly update client records to ensure customers do not pose a new or increased risk to the business. AML monitoring & Watchlist and PEP Screening is the process of keeping a regular check on all customers, ensuring any changes to their status that could result in a new or increased risk are identified and acted upon.

Our screening solution analyses information from customer's registration data and queries watchlist sources in the background. Once the customer name match appears on watchlists, the tool generates a report to guide further action or investigation. The same process is in place for the PEP screening model.

By empowering you with such a screening tool, ZeroTolerance makes your CDD and onboarding process more efficient, cost-effective and automative.

ZeroTolerance provides fiat and cryptocurrency transactions screening&monitoring tools best fit to your AML policies. We do understand how that technology itself requires appropriate configuration to your business model. By doing so we comply with both your risk appetite and AML requirements you are required to follow.

To put it simply, these tools allow you to simplify the KYT without loss of quality. This solution facilitates institutions in monitoring and drilling down the transactions to find suspicious activities or fraudulent transactions as a part of the transaction analysis process. This analysis is performed on the institution's data internally to find fraudulent transactions. The outcomes from the process serve as solid evidence, hence helping the institutions to protect themselves from fraud and regulatory penalties.

For sure it would be more suitable for the company to have our ALL-IN-ONE solution that includes, transactions screening and monitoring (KYT), therefore, avoiding the establishment of segmental tools from different providers. Our unique and comprehensive solution allows you to use a single solution to cover all compliance obligations properly.

Referring to the 20th Recommendation of FATF, a suspicious transaction report (STR) or a suspicious activity report (SAR) is to be filled by an AML-regulated entity to the local Financial Intelligence Unit once it has reasonable grounds to believe that a transaction is related to money laundering or terrorist financing activity.

Our solution allows the customer's compliance officers to react to alerts swiftly and efficiently. Once the officer had the notification of STR or SAR on the platform, the alert is present for review, dismissal or further approval on behalf of the compliance officer with all relevant consequences as prescribed in the customer's policies and procedures state's regulations.

Effective ZeroTolerance solution will assist the reporting entity in identifying suspicious activity and filing reports. In preparing STR/SAR, reporting entities are encouraged to use the most reliable customer records containing verified customer identification information, when available.

Once the activity of your company falls under the relevant state regulatory requirements, you apply for licensing to the state regulatory body to ensure its sound compliance with rules and regulations. Non-compliance with licensing requirements may result in substantial fines imposed by government regulators sooner or later.

Our certified experts are aware of possible pitfalls every applicant may face when applying for licensing of whether crypto or financial activities. Each regulatory body has its own approach to onboarding the companies to its regulated list, therefore, you ought to prepare all the relevant AML Policies and Procedures in advance. Moreover, the problems may arise even before the application itself. Depending on the license type, your company must follow economic substance requirements or has directors in charge with considerable relevant experience.

Reach us at info@zrtolerance.com to get more information on how we can assist with licensing your activities having regard to your specific case.

After the company set up or right after the license approval, the next step is to find a reliable bank account that will assure continuous banking services provision. For sure, high-risk businesses fall under enhanced due diligence checks and verifications, however, once the activity is well established and licensed (if necessary), there will be no problem for the company to open a bank account in a European payment institution or even eminent European bank.

Our experts have contacts with various banks and payment institutions in Europe and can assist with finding the appropriate bank solution depending on your initial unique request.

Send your request here info@zrtolerance.com and we will you a bank solution as to the nature of your business.

If your business must be licensed or you are planning to apply for a relevant license to the state body, you ought to be in good contact with the regulators to ensure the company's sound compliance with up-to-date regulatory requirements. Our experts have substantial experience in representing companies with regulators and public authorities.

We can assist with communicating with regulators and public authorities so that you will be aware of any additional requirements you have to comply with on your way to business licensing.

For further information on how we can assist you on this matter, reach us at info@zrtolerance.com.

As you may be aware FATCA is a U.S. law that aims to fight tax evasion by U.S. persons. The primary objective of the law is for Foreign Financial Institutions (FFIs), i.e. non-U.S. financial institutions to uncover and report any U.S. persons that hold assets abroad to the Internal Revenue Service (IRS).

Another global initiative for combating tax evasion is the CRS – the initiative for world tax transparency adopted by the Organization for Economic Cooperation and Development (OECD). Like FATCA, the CRS requires all financial institutions resident in a participating jurisdiction to identify and report any reportable accounts (typically persons that are tax resident in CRS participating jurisdictions).

At ZeroTolerance we can also ensure your compliance with FATCA and CRS reporting meet the requirements and standards by

- Determining the classification of the entity under the regulations and whether it is subject to the compliance requirements;

- Analyzing the impact as well as the current gaps within the entity (e.g. products, systems, departments, processes, etc.) that need to be addressed in order to comply with the regulations;

- Assistance with the reporting process to the relevant authority/regulator;

- Providing continuing assistance in dealing with FATCA/CRS queries

- Ensuring the updates on technical developments, deadlines and any regulatory changes are fully implemented and followed;

Do not hesitate to contact us at info@zrtolerance.com in order to receive a reliable consultation about FATCA & CRS compliance and reporting issues.

To be compliant with continually changing financial regulations is a tough issue. Nevertheless, there are clear opportunities for businesses to adjust their policies and procedures quickly to regulatory changes and build trust with their customers.

At ZeroTolerance our team members have extensive knowledge of the law, the regulatory and compliance issues that an array of financial institutions may face with. We are aware of the pain points of the clients that arise when balancing commercial goals and regulatory requirements. Our certified lawyers deliver clear, commercially focused solutions to all types of regulatory compliance.

We deliver a wide spectrum of compliance services to businesses based in the UK and around the globe. Furthermore, our ACAMS experts can assist with the interpretation of regulators' requirements and directives, the FCA/PRA handbooks and the anti-money laundering regime depending on the jurisdiction.

In modern exponentially interrelated and international market, it's crucial for businesses and individuals to have thorough understanding of local legal and fiscal rules, regulations and practices when taking part in cross-border transactions and activities.

Development and implementation an effective tax planning strategy for an internationally dynamic business has never been a softball question. You are to track and adjust to the constantly changing tax landscape in numerous jurisdictions and create a cohesive structure which:

- Manages and controls your general tax exposure in an appropriate manner;

- Sensibly avoids double taxation;

- Uses tax deferral opportunities at full breach;

- Times your tax and cash needs with due care;

At ZeroTolerance our team will assist you with taxation reporting via our seamless modules. Our team features the combined experience of Legal and Tax professionals who focus on supporting clients with business model efficiency.

Corporate services are an area across corporate straw and administrative practice that addresses legal compliance and maintaining of legal and corporate records of a business in order. Our corporate practice group provides strategic legal advice and proactive support to our clients to help navigate a fast-changing and sometimes opaque regulatory environment.

New technologies have led to significant changes in our daily lives. The reflections of these changes appear as new rules and laws not only in corporate but on privacy and security. Today, both public institutions and private sector have access to various information belonging to thousands of people within the scope of the performed business. This information obtained can be processed and transmitted easily as a result of the rapid developments in information technologies.

As well as corporate matters resolution, ZeroTolerance team is also able to assist you in tuning and implementing relevant privacy policies to ensure the compliance with local and international rules and directives.

Protecting business is of the highest importance for clients all over the world. At ZeroTolerance, we bring reason and instinct to every aspect of your finance, compliance and risk planning.

No matter where you are in the world, our specialists can support you with overseas interests and investments. Our solutions include but not limited to:

- Regulatory planning in a reliable manner;

- Screening and advising the business on the regulatory compliance;

- Tax reporting compliance, etc.

Should you require further information to find out more about how we can help, feel free to contact our experts at info@zrtolerance.com.