Passing compliance control in the bank

Today, all global financial organizations strive for maximum transparency of their activities and openness of operations. The main objectives of this approach are: ensuring customer safety, minimizing fraud, combating money laundering, and reducing the bank's administrative and financial losses.

As part of the implementation of this policy, banks carry out compliance control, i.e. a check for compliance with laws and standards, internal and external regulations.

Despite the fact that the purpose and idea of the audit are certainly correct, due to vague wording and ambiguous requirements it is not so easy to pass compliance control in a foreign bank. For this reason, banks often refuse to open an account or stop servicing existing customers.

The most common problems with compliance control are:

• inability to open a new bank account or threatening to close the current one;
• misunderstanding of the requirements
• legal complexity of the procedure;
• large amount of bureaucracy;
• incorrect filling in of documents requested by the bank.

To avoid unfavorable consequences, in particular, invalidation of economic transactions, imposition of restrictions, loss of business reputation, it is extremely important to successfully pass bank compliance.

Intelligent Solution Group specialists will help you quickly, affordably and without unnecessary bureaucratic delays to pass compliance control in the bank. Thanks to this, you will not lose important contracts, will not incur costs and will be able to continue doing business.

Who will benefit from the service?

First of all, the service will be useful for entrepreneurs with international business who want to get a guaranteed and stable operation of the bank account.

Intelligent Solution Company offers professional business support in the matter of protection of interests before the bank.

Intelligent Solution Group's assistance in passing compliance control in a bank

Our company assists in passing the organized KYC check by the bank and also in completing all the steps of AML check.

In order to successfully pass the compliance control it is necessary to correctly and as quickly as possible collect the documents, fill in the forms and submit them and answers to the compliance officer's questions to the financial organization. 

If requested by the bank, we will competently prepare all necessary documents and explanatory letters and send them for review. After reviewing them, the bank will be convinced of the transparency and legality of the operations and will remove the question regarding the cash flows that caused suspicions.

As a result, the active status of the bank account will be preserved, which will allow you to continue to perform currency transactions without the risk of non-fulfillment of contractual obligations.

Terms and conditions of work

Intelligent Solution Group offers full support of the client throughout the compliance control procedure. In our work we follow the following algorithm:

• we pay attention to the situation, look at the specifics of the business;
• we study the claims received from the bank;
• Prepare documents for the initial compliance audit - contracts, receipts, financial statements;
• we prepare explanatory letters;
• assist in communication with the bank's compliance department;
• wait for a response and, if necessary, provide additional support.

Our company is engaged in complex legal, accounting and banking support of business. Bank specialists in our company are former bank employees who know the schemes from the inside and understand the specifics of solving problems with banks. In addition, we are ready to offer a turnkey foreign bank account opening service. 

For a free consultation, please contact us.