LegalEase Solutions conducts audits and tests the effectiveness of Anti Money Laundering (AML) compliance policies and procedures. The audit is done in three phases: document collection, document evaluation, and compilation of findings into an audit report for the Compliance Manager. The audit conducts a review of:
In a digital economy where data is becoming increasingly vulnerable and complexly regulated, the way your firm stores, accesses, and protects business information, becomes an integral part of your business strategy. LegalEase Solutions will work with your team to access all your data sources, identify essential data compliance standards, create policies, and implement a governance model.
LegalEase Solutions review your information handling policies and make certain that you maintain your operational compliance by:
LegalEase Solutions conducts a comprehensive assessment of your firm’s General Data Protection Regulation (GDPR) compliance program and develops a plan to manage on-going remediation. Our attorneys will review your firm’s data - where and how it's stored. Post review, LegalEase Solutions prepares addendums before the regulatory deadline to supply chain contracts in line with General Data Protection Regulation’s (GDPR)requirements.
LegalEase Solutions will assist your firm with innovative and practical ways to manage your compliance and reporting obligations around the world. Our Global Compliance team uses best practices, technology and interactive dashboards that can support local, near shore and offshore compliance activities helping you manage and track your compliance status around the world.
LegalEase Solutions carries out audits of your privacy practices by reviewing personal information handling practices, including on-going activities and new initiatives, and ensures that they comply with fair information practices prescribed by the Privacy legislation.
Our privacy audit involves:
LegalEase Solutions will work with your team to create a compliance framework that outlines the regulatory compliance standards relevant to your business processes and the internal controls your firm has in place to adhere to these standards. This framework will include communication processes, risk controls, and governance practices for maintaining compliance. LegalEase Solutions will also identify and eliminate redundant compliance processes.
Regulatory mapping is crucial to not only demonstrate your firm’s compliance, but also to build a platform for management and strategy execution. LegalEase Solutions subject matter experts will review your firm’s ongoing operations and the laws they are subject to. Our team will then collaboratively and carefully map all the applicable rules and regulations to your firm’s operations and governance frameworks.
LegalEase Solutions will review each regulatory change and find relevant updates to establish an accurate legal basis for your compliance program. Our research serves to discover secondary sources that provide relevant regulatory sections. We conduct multi-jurisdictional research, that includes historical notes and links, presented in an easy to read format.
Suspicious Transaction Reports (STR) play an important role in combating money laundering and terrorism financing. LegalEase Solutions will work with your team and review all International Financial Data Services (IFDS) transactions to determine if any suspicious transactions have occurred.
Reduction in Compliance Spend
A global asset management firm required regulatory research updates and due diligence along with suspicious transactions reporting. LegalEase created a tracker and provided monthly regulatory analysis on the Anti Money Laundering and Terrorist Financing Act, Special Economic Measures Act, and Personal Information Protection Act.
A prominent insurance company needed a comprehensive review of its policy files. LegalEase employed a document management strategy, prepared voluminous document summaries, and assisted in drafting and sending letters to individuals whose data may have been compromised. The team also researched and analyzed legal and regulatory requirements pertaining to data breach issues in all 50 States, Canada, and globally.