Financial Crime Compliance

Financial Crime Compliance "Grass grows by inches but dies by feet" — A good reputation and goodwill built over several decades can be lost in a matter of minutes. As Nepal gets increasingly coupled to the global economy, the risks associated with Financial Crime vastly increases. Did you know that Nepal Rastra Bank considers evasion of tax as a money laundering offence? In fact theft, bribery, counterfeiting, illegal betting, forgery and fraud are all predicate offenses for money laundering. Each day your bank may be exposed to adverse financial, reputational or regulatory repercussions due to money laundering attempts. Dolma uses big data and A1 to identify, monitor, mitigate, and manage Financial Crime risks associated with your bank. Our consultants will create easy, simple to remember & use, risk management framework that will empower all staff to be the first line of defense.

Anti Bribery and Corruption
Nepal ranks 124th amongst 175 countries ranked on Corruptions Perceptions Index. Each day your business leaders find themselves constantly tackling attempts for bribery, kickbacks and other forms of corruption. How susceptible are they? Can you institute a culture that permeates Transparency and Values right from the top down to the security guard who frisk's walk-in clients. Our specialists have first-hand knowledge of the business, cultural, regulatory and threat realities in Nepal and they will create and implement coping strategies for your bank.

Anti Money Laundering
Financial Action Task Force (FATF) captures Nepal as a High Risk jurisdiction. You face an event risk from your own clients or from clients in the banking industry; are your systems, procedures, protocols and people geared to Identify, Assess, Mitigate and Monitor the situation. Learn from Leading Industry and sector specialists, who will work with your teams to co-create real-time monitoring and control systems.

Trade based Sanctions
Globalisation and Sanctions Risk are directly correlated. The growing list of sanctioned countries and business is creating both new risks and opportunities. Are you aware of the risk it poses to your bank and does this topic figure in your governance risk and strategic risk discussions? Sanctions not just increases the cost of doing business but exposes you to global litigation, adverse media and business curbs. Dolma provides Enterprise Compliance services which de-risk's your bank business in Nepal and Overseas from potential sanctions breaches.

Does your bank have a policy on Gifts and Entertainment that everyone understands and complies with?
Despite your investments in transaction monitoring and case management systems, are you uncomfortable with the level of staff awareness and compliance?
What would you do if your wire remittance was withheld by the US correspondent bank and/or your United States dollar account was frozen through a subpoena?