Consulting and Education
Consulting and Education
Provide the best cost efficient implementation consulting
Consulting framework
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1. Environmental Analysis
Business and environmental analysis
Review of regulatory requirements and relevant standards for the level of performance of anti-money laundering operations
Analysis of the work environment considering RUSFTIA(the act on reporting and using specified financial transaction information)/enforcement ordinances and international standards
Support documentation of anti-money laundering business regulations, related policy documents, procedures, etc
Propose optimal processes and organizational frameworks
Design and implement a customized Education program that considers user experience and proficiency
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2. AML design advancement
Identification of customer (KYC)
KYC Process Guide in accordance with the act on reporting and using specified financial transaction information /Enforcement Decree and FIU Notice AML/CFT Operations/Supervisory Regulations
Risk Assessment (RA)
Designing and advancing customer risk assessment models
Define standard number
Trade Monitoring Service (TMS)
Design applicable STR Scenario
Initial threshold setting and simulation
Continuous STR rule model management and reporting management measures are derived
Internal Control (IC)
Guide on Education, manual, internal audit system establishment
Guide on establishing AML roles and business procedures between field departments, compliance support and internal control departments
Guide on KYE system establishment
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3. RBA Risk Assessment Design
Risk identification and classification
Risk Assessment List Guide for the Enterprise Risk Assessment
Risk Assessment and Analysis
Ranking based on perceived risk impact and controllability
Internal control evaluation
Establishment of risk control methodology
Establishment and implementation of mitigation plan
Establish mitigation activities plan through internal control by risk ranking
Residual risk evaluation
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4. RBA risk indicator reporting
Report operational risk indicators
Manual and automatic reporting indicator design
Report industry specific risk indicators
Manual and automatic reporting indicator design
KoFIU reporting
Create reporting files and establish reporting processes
Education Content
OCTASolution provides customized Education services according to the customer's level of understanding on AML and the degree of involvement in AML work. We also provide Educations for system users and operators to ensure smooth business progress after the system has been implemented
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Project Launch
Anti-Money Laundering base Education on guidelines and regulations
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Product Installation
1st Education on the use of the product
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Implementation complete
User 2nd Education
System Operator Education -
Stabilization
User and Operator OJT (On site business Support)
Examples of AML work regulations Education for those heavily involved in anti-money laundering work
| Date | Time | Content |
|---|---|---|
| Day 1 | ||
| 1 | Characteristics of Anti-Money Laundering System Definition and Origin of Money Laundering Money laundering, crime, anti-money laundering International Anti-Money Laundering Organization Money Laundering Act Financial Information Analysis Research Institute |
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| 2 | AML and RBA System Components Understanding the RBA System Overview of the Specific Financial Transactions Act Money laundering sanctions provisions |
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| 3 |
Overview of the Act on reporting and using specified financial transaction information and the Enforcement Decree of the Act on reporting and using specified financial transaction information AML procedures - Internal Control AML procedures - customer identification
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| 4 |
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| Date | Time | Content |
|---|---|---|
| 2nd day | ||
| 5 | AML procedures - customer identification
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| 6 | AML procedures - Customer Verification System(KYC)
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| 7 |
AML procedures - High Risk Group EDD AML procedures - STR AML procedures - Reporting System AML procedures – Data preservation |
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| 8 |
Amendment to the Enforcement Decree on the Act on reporting and using specified financial transaction information(VASP) Inspection list of financial supervisory services in 2020 |