ACRA IPPC PREPARATION SERVICES

 

Accounting and Corporate Regulatory Authority (ACRA) introduced the requirement to have the IPPC documents for every Registered Filing Agent (RFA) in 2015. ​

Corporate Service Provider (CSP) is to understand the IPPC, short for Internal Policies Procedures and Controls. Accounting and Corporate Regulatory Authority (ACRA) enforced the IPPC documents for every Registered Filing Agent (RFA) since year 2015. 

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Referring to the regulations, you need to implement the IPPC, which was written, to conduct your daily business. Business activities are customer acquisition, evaluation, risk identification, and proper documentation.

The contents of this IPPC are: -

• Introduction

• Scope of Regulation of Corporate Service Providers

• Regulatory Regime for Corporate Service Providers

• Obligations of Registered Corporate Service Providers

• Money Laundering, Terrorism Financing and Proliferation of Weapons of Mass Destruction

• Prevention of Money Laundering, Proliferation Financing and Terrorism Financing

• Obligations of Registered Qualified Individuals 

• Annex A – Indicators of Suspicious Transaction

• Annex B – Examples of Risk Factors used in Customer Risk Assessment

• Annex C – Customer Acceptance Form / Customer Due Diligence Form

• Annex D – Essential Elements of Internal Policies, Procedures and Controls for the Prevention of Activities Related to Money Laundering, Proliferation Financing and Terrorism Financing

• Management 

• Risk assessment

• Customer due diligence (“CDD”)

• Enhanced customer due diligence

• Record keeping

• On-going monitoring

• Reporting a suspicious transaction

• Audit and compliance

• New staff, Existing staff - procedure of hiring and on-going training 

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*The policy needs to be reviewed at a specific interval, and we are offering the services.