Compliance & risk assessment

Compliance is a broader subject comprising several components. The complexity of it has changed in the last decade. Compliance workflow has become an essential aspect across various sectors including fiduciary, trust, and corporate services.

At IN Fiduciary Services, we fulfill our role as trustees by conducting risk assessments which involve a proactive analysis of potential vulnerabilities of the clients’ structures.

It involves identifying and assessing the risks the trust and corporate provider reasonably expects to face from money laundering and terrorism financing.

Our services include:

Customer due diligence using the identity verification code of practice.
Identification and rectification of beneficial owner’s identity.
Assessing introducers, intermediaries, and institutions that we are dealing with.
Assessing High Risk Countries & Sanctions
Preparing KYC documents for the Independent Audit
Annual Filing with the Inland Revenue Department (IRD), Department of Internal Affairs (DIA).

Our compliance department collaborates with the IRD, DIA AML/CFT section, and the NZ Financial Intelligence Unit. The compliance team undergoes ongoing AML/CFT training provided by the NZ DIA, NZ Intelligence Unit, and the AML CFT training industry to stay updated on AML/FT requirements and changes in AML/FT regulations.

We participate in seminars and industry events to stay informed about new regulations. Our AML team constantly implements new requirements and updates, applying changes to the company’s AML Compliance programs and risk assessment.

The compliance team possesses a deep understanding of a business’ specific obligations and risk factors, ensuring that the companies of our clients are protected from potential non-compliance penalties.

IN Fiduciary Serices Limited (Reg.no. 678919/NZBN: 9429038473784) is reporting entity in New Zealand regulated by Department of Internal Affairs.

IN Fiduciary Serices Pte. Limited (200300465W) is a registered filing agent (FA20230191) in Singapore, regulated by The Accounting and Corporate Regulatory Authority (ACRA