This guide is written for forex brokers, CIFs, payment and trading firms. Rules change regularly and individual circumstances vary, so speak to a Tsquared accountant before acting. We regularly help clients with capital adequacy under ifr/ifd, client-money reconciliations, cysec prudential returns.
Key points
- Risk-based approach
- Annual AML report
- Transaction monitoring
- Independent review
Challenges you face, solutions we provide
Challenge: Capital adequacy under IFR/IFD
Our solution: Monthly IFR/IFD monitoring against minimum, fixed-overheads and K-factor requirements
Challenge: Client-money reconciliations
Our solution: Daily client-money reconciliations and the annual safeguarding audit
Challenge: CySEC prudential returns
Our solution: Every CySEC prudential and statistical return filed on time
Challenge: Introducing-broker payments
Our solution: IB and affiliate contracts, VAT treatment and KYC kept clean
Challenge: Transfer pricing across groups
Our solution: Transfer-pricing documentation and benchmarking for the whole group
Frequently asked questions
- AML for forex brokers: what's the short answer?
- Forex brokers must run risk-based AML procedures, annual AML reports and independent AML audits to satisfy CySEC.
- Can Tsquared help with aml for forex brokers?
- Yes. We advise forex brokers, CIFs, payment and trading firms in Cyprus on aml for forex brokers and handle the filings for you.