5 Key Steps: Identifying Politically Exposed Persons (PEPs) in AML Compliance 🕵️♂️ Politically Exposed Persons (PEPs) pose heightened AML risks. Here’s how to manage PEPs in 5 steps: 1️⃣ Implement a process to identify PEPs during Client Due Diligence 2️⃣ Use screening tools to check for PEP status globally 3️⃣ Apply Enhanced Due Diligence (EDD) for all identified PEPs 4️⃣ Conduct ongoing monitoring for changes in their risk profile 5️⃣ Keep detailed records and review PEP relationships regularly Managing PEPs effectively reduces risk exposure. How does your firm handle PEPs? Need to outsource your compliance? We've got you SORTED! Visit the link in the comments 👇 #PEP #PoliticallyExposedPersons #EDD #AMLCompliance #LawFirms
Teal Compliance
Legal Services
Salford, Lancashire 3,358 followers
Teal is a network of expert consultants providing risk management support & training to Law Firms. #Compliance #AML
About us
Teal Compliance provides support to Law Firms with Compliance. Owners of law firms shouldn’t be losing sleep over compliance. We believe that compliance should not be feared, it is a framework to deliver high quality, reliable, risk free and fair service to clients whilst protecting your business. Teal Compliance comprises a team of specialists that will provide bespoke, practical advice that is cost effective and accessible to law firms of all sizes. Whether it’s AML training or a GDPR policy review, Teal Compliance’s approach is to understand and learn about the specific work types and risk profile of a firm to ensure that the support received is customised to them. Teal Compliance recognises that there is a need for firms to be able to access immediate support across all areas of the compliance eco system. It is rare that a firm will have a query about one standalone element of compliance without it impacting on another. Teal Compliance brings together experts in each of these related fields who will be available through the network, so firms can have confidence that they have the best support available at their fingertips. An initial chat with us is always free, so if you need any help, get in touch at hello@tealcompliance.com or 0333 987 4320
- Website
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http://www.tealcompliance.com
External link for Teal Compliance
- Industry
- Legal Services
- Company size
- 11-50 employees
- Headquarters
- Salford, Lancashire
- Type
- Privately Held
- Founded
- 2018
- Specialties
- AML , GDPR , COLP, SRA Compliance, Risk Management, Training , Audit, Data Protection , Anti Bribery, Lexcel, Accreditation, CLC Compliance, Strategy, and Technology
Locations
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Primary
Get directions
Spark Studio, 208-210 Great Clowes Street
Salford, Lancashire M7 2ZS, GB
Employees at Teal Compliance
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Sally Holdway
LawTech strategist, co founder of the Home Owner's Passport, helping agents with material information, helping lawyers with pre-emptive enquiries and…
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Amy Bell
AML Specialist for Professional Service Firms, Solicitor, Chair of The Law Society’s Economic Crime Task Force, Lawtech Co-founder, Author, Director
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Emma Dimbylow
Senior solicitor | Compliance specialist for law firms | COO at Teal Compliance
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Robin Trigg
Vue.js developer
Updates
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❓Want to start this year off without the stress and hassle of last year? The answer is simple - outsource your AML compliance! Join our AML SORTED Programme and we'll take care of everything for you, so you don't have to worry: 📝 Ensure compliance with regulations 🛡️Protect reputation and client trust 🚫Detect and prevent fraudulent activities 💸Avoid hefty fines and legal repercussions Want to know more about our AML SORTED Programme? Visit the link in the comments! 👇 Stay ahead, stay compliant! #LawFirms #AML #Compliance #FinancialSecurity
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Team Teal would like to wish you all a Happy New Year! ✨ #newyear2025
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Our training courses get fantastic feedback! ⭐⭐⭐⭐⭐ Here's another from our recent COLP Masterclass ran by Eilish Cullen ! If you'd like to find out more about the training we can offer, visit https://bit.ly/3R0FaBF #compliancetraining #compliancecourse #legalcompliance #testimonial
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Our training courses get fantastic feedback! ⭐⭐⭐⭐⭐ Here's another from our recent AML Masterclass ran by Yasmin Mia! If you'd like to find out more about the training we can offer, visit https://bit.ly/3R0FaBF #compliancetraining #compliancecourse #legalcompliance #testimonial
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5 Key Steps: Managing AML Compliance in Cross-Border Transactions 🌍 Cross-border transactions present unique AML challenges. Here are 5 steps to manage AML risk effectively: 1️⃣ Assess the risk based on the client's country of origin and transaction type 2️⃣ Conduct comprehensive due diligence on all parties involved, including intermediaries 3️⃣ Review any applicable local AML regulations in both jurisdictions 4️⃣ Use international sanctions screening tools to detect any red flags 5️⃣ Monitor ongoing transactions to identify unusual cross-border activity Cross-border transactions require extra vigilance. How does your firm manage this risk? Need to outsource your compliance? We've got you SORTED! Click the link in the comments 👇 #CrossBorderTransactions #AMLCompliance #LawFirms
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For details of compliance news, updates and our events in the new year, join our mailing list today! To receive our regular newsletter, visit: https://loom.ly/ECmjeDs #mailinglist #events #compliance #information #latestnews
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Team Teal would like to wish you all a very merry Christmas! 🎄 #merrychristmas #christmas2024
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Our training courses get fantastic feedback! ⭐⭐⭐⭐⭐ Here's another from our recent COLP Masterclass ran by Eilish Cullen! If you'd like to find out more about the training we can offer, visit https://bit.ly/3R0FaBF #compliancetraining #compliancecourse #legalcompliance #testimonial
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Building a culture that supports a diverse workforce, while fostering an environment where individuals feel comfortable speaking up is challenging. As culture plays an integral part of mitigating compliance risks, we explore how to navigate cultural challenges in law firms. Read more here: https://loom.ly/9_FyhRg #lawfirmculture #complianceculture #culturalchallenges
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