Business ActivityGreenTech Energy is a medium-sized company specializing in renewable energy solutions, including solar panels and wind turbines. The company sells these products to both residential and commercial clients. Financial Statements-Balance Sheet (in USD) Particulars   2022   2021   Assets       Non-current Assets   5,000,000   4,000,000   Current Assets   2,000,000 […]

Scenario:A real estate agent at a financial institution notices a series of unusual transactions involving a new client. The client, who recently opened an account, has been involved in multiple real estate purchases and sales within a short period. These transactions involve properties that are either significantly over- or under-valued. Additionally, the client frequently uses

1. High-value funds deposited or transferred to an account described as short-term loans with no transactions showing repayment of loans Introduction· Client: GemmaLux Corp.· Country: Zephyria· Industry: Precious Metals and Stones· Owner: Victoria Ruby Nature of Business: Import, export, and local trade of precious metals and stones Victoria Ruby is a charismatic entrepreneur with a penchant

KYC stands for “Know Your Customer” and AML stands for “Anti-Money Laundering.” Both KYC and AML are important parts of onboarding for HNI (High Net Worth Individuals) and private wealth clients. KYC for HNI and Private Wealth Clients: KYC is the process of verifying the identity of a customer and their source of funds. This

As a Compliance and AML Reporting Officer in a regulated financial institution with diverse activities your monitoring and testing responsibilities span across various areas to ensure effective AML compliance. Here’s a breakdown of key areas and approaches: