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DIA warning a wake-up call for reporting entities

Leading real estate agency Property Brokers Limited has received a formal warning from the Department of Internal Affairs (DIA) for failing to comply with Anti Money Laundering/Countering financing of terrorism laws.

Published: 24 March 2021

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The cost of compliance failures

AML/CFT supervisors have several potential paths to follow, should they have concerns about a reporting entity’s systems and processes - typically following a regulatory visit or an investigation.

Published: 24 March 2021

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No time to waste on overdue biennial audits

We estimate more than 1,000 phase two reporting entities (that’s lawyers, accountants, and real estate agents) are yet to undertake the biennial AML/CFT audits that were due in 2020.

Published: 24 March 2021

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Industry embracing professionalism

The latest Strategi Institute course enrolment numbers, Radar licence subscriptions and analysis of questions being asked, show the financial services industry is embracing the industry’s new professional standards.

Published: 31 March 2021

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The hows and whys of obligations registers

One of the fundamental pillars to being compliant as a financial adviser or financial advice provider is knowing your regulatory obligations and building your policies, processes, and controls from a single source of truth. This is where the obligations register becomes a vital document in every business.

Published: 31 March 2021

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