Turn the need for AML compliance into a virtue
AML compliance software for Tax Law
You are being drawn to all sides to be open about things. Tax transparency is expected from you not only because of the AML directive, but also because of European legislation - think DAC6. You must identify and investigate any unusual transactions. A difficult job, as you do not want to damage the relationship of trust with your client.
Automating and objectifying the "onboarding process" of clients offers tax specialists and tax advisers a solution. By automating this process, the onboarding process will not only go faster, but also feel a lot more comfortable for you and your client. Plus, you'll have more time to focus on things that make you happy, while you comply with the law.
The AML directive has two core obligations; customer due diligence and the obligation to report unusual transactions. The AML module supports you with the identification and verification of clients and the recognition of unusual transactions.
Intermediaries - and in some cases taxpayers - are obliged to report certain arrangements to the tax authorities. This concerns certain potentially tax aggressive cross-border arrangements. With this module you can easily comply with this directive.
You are relieved from UBO forms
By setting up your AML process completely digitally in accordance with automated workflows, you are finally relieved of working with time-consuming UBO statements. These forms, often sent in PDF, are a thing of the past as of now. Automating and objectifying this process prevents frustration for you and your client. The Regulatory Lab digital process contains all requirements that follow from the AML Directive and is updated in the event of legislative changes. You save time and money and always work in accordance with the latest legislation.
- Does the application generate a summary for the regulatory body?
- Yes, the application generates a detailed summary with all the relevant information for the regulatory body.
- Is the AML content kept up-to-date?
- Yes, the application is kept up-to-date. In case of any legislation amendments, the application is amended accordingly.
- Is the application only suitable for large firms?
- No, the application is suitable for small, medium and large offices.
- Does the application check for any sanctions as well?
- Yes, the application checks and monitors all mandatory sanctions lists, the UN, EU and Dutch lists. In addition, the high-risk country lists are also checked and monitored. This way you no longer have to subscribe to expensive suppliers where you can check names. Manual checking is a thing of the past.
- Are the files separated from the case files?
- Yes, AML and Voda information is stored separately.