AML/CFT Consulting & Training
AML/CFT
Aplus is dedicated to helping our customers improve their compliance status. Aplus has extensive experience in undertaking remediation actions and liaising with regulators and external auditors. Some of our customers have achieved outstanding results.
One of the most notable achievements is that a foreign currency exchange service provider has FULLY passed an onsite compliance review conducted by the Department of Internal Affairs (the DIA). The foreign currency exchange sector has been assessed as high risk by the DIA. This is not only due to the nature of the sector but also the fact that material AML/CFT deficiencies were identified in this sector.
The FULLY passed outcome is a very rare accomplishment in this sector. Aplus has been engaged by the customer for more than two years. During this period, Aplus helped the company establish and improve its compliance process and conducted various trainings for its staff members. After all the efforts, the customer earned what it deserved.
AML/CFT Audit
AML/CFT
Derek Chen is one of the most experienced bilingual (English and Mandarin) AML/CFT auditors in New Zealand and has completed more than 200 AML/CFT audits across various sectors.
The approach taken by Aplus is pragmatic. We believe compliance should not be a barrier for growing business. Compliance should help the business build a solid foundation and ensure the business can develop safely. We always try to provide pragmatic solutions for the compliance problem faced by the business. During the audit, communication is the key. We will go through all the findings with customers before forming any conclusion. The audit is not only an opportunity for the customer to identify deficiencies but also a good chance to get confidence in the compliance process.
Financial Advice Provider Licence Application and Compliance Consulting
Finance
Aplus has been helping financial advisers meet their regulatory obligations. Due to the restructuring of the regime, financial advisers are facing more and more obligations and are subject to closer monitoring. To meet unprecedented challenges, Aplus has been engaged by financial advisory firms (mortgage, insurance, and investment) to assist in full licence application and establishing compliant advice processes. The work undertaken by Aplus includes, but not limited to, customer file review, compilation of compliance documents, and help desk service.
FSPR Registration and Licence Application
FSPR
The financial services industry regulated industry. All financial service providers are required to be registered on the Financial Service Providers Register (FSPR). Some services are required to apply for licence by the Financial Markets Authority (the FMA). Aplus can help businesses apply for FSPR registration and licences. Aplus will help businesses to identify which service they should apply for, liaise with the regulator and compile documents required.
Ad Hoc Service
AD hoc
Aplus provides customised consulting services to businesses. The service will be customised based on the customer’s needs. We had experience in reviewing the compliance framework, outsourcing framework and operation process. A business is like a person who needs bodychecks from time to time. The optimised operation process can facilitate the business operation and take the business to the next level.
We were engaged by a multinational business to conduct a review of their outsourcing framework. The review includes rescoping the service, establishing an assurance process, and consolidating the internal control processes. After the review, the business has a more concise and effective monitoring process in place to assess and monitor the outsourcing service providers. The appropriate outsourcing service arrangement is a key part of the regulatory requirements.
Investment Due Diligence
INVEST
Aplus has a good understanding of the financial market in New Zealand. We can help investors undertake due diligence on the business before making investment decisions. The due diligence includes reviewing the investment terms, verifying the registration status, commenting on the risks of the offer, etc.