What is Proofdesk?
Proofdesk is a platform that helps firms manage their AML/CFT compliance process from beginning to end. It's built to be a smart filing cabinet for compliance data, allowing easy collaboration across your whole team in completing your compliance workflow with as little stress as possible.
Proofdesk allows for a seamless customer lifecycle from first contact through:
ID&V
Collection of supporting documents
Identification of controlling parties
Onboarding review
Customer Risk Assessment
Introducer Risk Assessment
Relationship approval
Ongoing periodic reviews
Statistical Return - Generated automatically in seconds.
Proofdesk helps by:
Structuring your data to be reusable and searchable to reduce time spent searching for data
Automatically checking policies against your team's work to reduce costly mistakes
Automating tedious calculations for reports to reduce time spent on aggregating data
Versioning data for a full account of events and evidence for the regulator
Keeping your team notified of upcoming reviews on relationships and what work needs to be done
Keeping your team leaders notified of changes in relationships, review progress, and sign-offs
Controlling who in your team can access what data
Why?
Isle of Man regulated firms face stringent AML/CFT requirements, far surpassing those of many other jurisdictions. Until now, the absence of purpose-built software has forced most firms to rely on inefficient, disjointed spreadsheets. Existing solutions make it difficult to be sure that your policies are being properly enforced or that you hold all of the evidence you require. This has caused a wave of fines imposed by the regulator for mistakes that would otherwise have been easily preventable.
Built for the Isle of Man
Proofdesk has been built primarily for firms on the Isle of Man who are regulated by the Financial Services Authority. We've taken care to ensure that our software conforms to the requirements set out by the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019 (The Code) as well as the additional guidance found in the Anti-Money Laundering and Countering the Financing of Terrorism Handbook July 2021 (The Handbook).
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