Projects
Case Studies
FLE Compliance has completed numerous projects in the areas of AML/CFT, beneficial ownership, trust, virtual assets, the extractive industry, and compliance. As part of our services, we have worked with a wide range of clients, including financial institutions, government agencies, and international groups. Our track record of providing high-quality services and achieving results for our clients has helped countries, organizations, companies, and institutions improve their regulatory and compliance practices and manage financial crime risks more effectively.
Some of the key areas in which FLE Compliance has provided services include:
Sectoral/National Risk Assessments: FFLE Compliance has extensive experience in providing assistance with sectoral and national risk assessments to financial institutions and countries. The primary objective of this service is to help identify and mitigate financial crime risks that these entities may face. Our team of experts offers advice on various tools that can be used to identify and monitor illegal financial flows. This includes identifying and assessing risks related to sanctions and financing proliferation, which are critical issues that can have a significant impact on a country's or financial institution's reputation and stability. FLE Compliance also helps to develop methods for risk assessments, which involve analyzing and evaluating different financial crime risks that could affect a specific sector or country. This includes providing guidance on risk assessment methodologies, identifying key risk indicators, and determining risk levels based on the likelihood and potential impact of specific risks. Overall, FLE Compliance's sectoral and national risk assessment assistance is designed to help financial institutions and countries better understand and manage financial crime risks, which is crucial in today's increasingly complex and interconnected global economy.
Risk-Based Approach to Supervision: FLE Compliance supports organizations and institutions in implementing a risk-based approach to supervision. This includes developing strategies for mitigating and controlling financial crime risks, as well as drafting and reviewing legislation, regulations, policies, and supervisory manuals.
Confiscation and Asset Recovery Training: FLE Compliance provides training to enforcement agencies, prosecutors, and judges on confiscation and asset recovery to help them effectively investigate and prosecute financial crime cases.
Financial Investigations: FLE Compliance provides training and support to organizations on financial investigations, helping them detect, investigate, and prosecute financial crime cases. We also offer workshops to investigate financial crime using the latest methods and apps.
AML/CFT Compliance Requirements: FLE Compliance offers guidance and training on AML/CFT compliance requirements for reporting entities, including banks, non-bank financial institutions, lawyers, accountants, real estate agents, trusts, company service providers (TCSPs), and casinos.
FLE Compliance also provides specific services in the following areas:
Virtual Assets and Cryptocurrency Regulations: FLE Compliance provides guidance on virtual assets and cryptocurrency regulations, helping countries, companies, and institutions stay up-to-date with regulatory developments and assess and manage the risks associated with these assets.
Beneficial Ownership: FLE Compliance assists in identifying beneficial ownership information and addressing the risks associated with anonymity by adopting international standards and recommendations.
NPOs: FLE Compliance helps countries and organizations identify and mitigate risks related to financial crime in the non-profit sector and provides regulations and guidance on compliance requirements.
Trust: FLE Compliance assists trusts in identifying and managing the risk of money laundering, terrorist financing, and other financial crimes.
Extractive Industry: FLE Compliance provides advice on how to comply with rules and requirements in the extractive industry sector that relate to transparency and accountability.
FLE Compliance's services are designed to assist financial institutions, government organizations, and international organizations in managing financial crime risks effectively. Our knowledge and experience in the field have enabled our clients to improve their compliance practices and maintain their rules and regulations in accordance with international standards and recommendations.
2022 Projects
Technical Assistance on the AML/CFT requirements to the legal sector; and delivering a three-day workshop for the lawyers in Tunisia.
Tunisia (Northern Africa)
Technical assistance to Romania in developing the National AML/CFT Action Plan, including reviewing the draft action plan and providing recommendations for improvement.
Romania (Europe)
Research paper on the issue of ‘Duplicate Financing: how to resolve it, financial crime challenges and ultimately how does it contribute to the Trade Finance Gap? Paper developed for the SWIFT Institute.
Downlaod Paper: Duplicate Financing: What is it, how can we resolve it, and how does it contribute to the trade finance gap?
Research Paper for the SWIFT Institute (Belgium)
Technical assistance on the ML typologies, data collection and analysis techniques, specific methodologies and best practices conducting sectoral risk assessments of the real estate sector. Review the draft risk assessment developed by Serbian authorities and provide recommendations for improvements.
Serbia (Southeast Europe)
Technical assistance to finalize a draft in-depth study of the existing and emerging systems of beneficial ownership transparency, using country case studies. To draft a summary background document for the United Nations Office on Drugs and Crime-UNODC/StAR Asset Recovery Forum. To create and update country-specific beneficial ownership guides to improve tools & resources to trace illicit funds in priority jurisdictions.
Research Paper on beneficial ownership transparency for UNODC/StAR Asset Recovery Forum
Provide technical assistance as an Intelligence Led Financial Investigation (ILFI) Expert specializing in financial investigations to assist partner countries to better target the identification, investigation and disruption of serious financial crimes by optimising cross-agency collaboration for American Bar Association – Rule of Law Initiative (ABA-ROLI’s) Case-Based Training on Intel-Led Money Laundering Investigations across the Balkans and Southeast Asia (AML Case- based) Program, including Indonesia, Laos, Montenegro, North Macedonia and Thailand
Indonesia, Laos, Montenegro, North Macedonia and Thailand (Balkans and Southeast Asia)
Conduct an Extractive Industries Integrity Study, using the NRGI tool for diagnosing corruption risks, assess the state of the extractive sector in the Philippines and identify areas of extractive decision chains and supply chains prone to corruption, and to build an action plan to reinforce the integrity of the sector and prevent corruption risks in the sector.
Philippines (Southeast Asia)
Conduct research and develop a knowledge product that provides a comprehensive overview of the status of beneficial ownership reforms in the Asia and Pacific region, including progress and best practices on BO reforms, emerging challenges and practical guidance and recommendations for governments. To facilitate the Asian Development Bank and EITI joint regional workshop on beneficial ownership.
Research Paper on the beneficial ownership reforms in the Asia.
Awarded the framework contract to support the Economic Crime and Cooperation Division (ECCD) in the implementation of on-going and future initiatives aimed at analysing and advising on policy, legislative and institutional responses to countering economic crime and the effectiveness of the management of risks and vulnerabilities in three areas: – a) Anti-Money Laundering (AML); b) ML/TF risks and vulnerabilities associated with new technologies; and c) combating terrorism and its financing.
Framework Contract by the Council of Europe (CoE) to provide technical assistance in the EU member countries. (2021-Present)
Assessed two EU Member States on the concrete implementation and effective application of the selected articles of the EU Fourth Anti-Money Laundering Directive (4AMLD). Conducted on-site meetings and interviews with the relevant institutions to obtain the necessary information and data, and to prepare and submit the evaluation report to the CoE Secretariat. Drafted a horizontal review report on the practical application of the 4 AMLD for all EU Member States by taking into account all 27 country assessment reports.
Assessment Report of the EU countries (27) are: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
Technical and advisory services to support the FIU of the Office of Banking Commission of the Republic of Marshall Islands (RMI), for the purpose of preparing for the third-round mutual evaluation of RMI by the APG. Provided technical assistance on the preparation of their TC Annex Report, Effective Report (including any follow-up questions from the APG) and any amendments to their current law and regulations to enhance their compliance ratings.
Marshall Islands (RMI), (Western Pacific Ocean)
Developed training materials and delivered two days' training to the law enforcement authorities and other national authorities in Azerbaijan on beneficial ownership transparency.
Azerbaijan (Southwestern Asia)
Technical assistance to the supervisory authorities in conducting sectoral ML/TF risk assessment of the real estate, construction and investment industry in Montenegro.
Montenegro (Southern Europe)
Reviewed the draft National AML/CFT Action Plan for Bulgaria and provided recommendations for improvement, including holding meetings with the relevant authorities to discuss and advise on the recommendations.
Bulgaria (Southeast Europe)
Enhanced the knowledge and skills of the Agency of the Republic of Kazakhstan for Financial Monitoring (AFM – Kazakhstan’s Financial Intelligence Unit) by conducting seminars on the topics of a) Parallel Financial Investigations; and b) Mechanisms for Identifying Cash Couriers.
Kazakhstan (Central Asia)
Design and deliver interactive training course to inform key staff of the Federal Commission for Integrity (FCoI) and the Iraqi Anti-Corruption Academy (IACA) on conducting financial investigations, modern auditing methods, analysing the sources and legitimacy of funds, and investigations of conflict of interest.
Iraq (Middle East)
Participated in an internal meeting with the UNODC team on reviewing a draft research study on transparency of beneficial ownership - transparency in sixteen jurisdictions worldwide. Developed and submitted a revised outline of the BO research study. Developed a questionnaire to collect further information on BO from countries, taking into consideration the newly approved Resolution 9/7 of the UNCAC.
BO Research Study : Transparency of Beneficial Ownership
Developed a policy briefing on ‘effective, proportionate and dissuasive’ sanctions and enforcement for ensuring compliance with a beneficial ownership transparency regime, and to provide key policy considerations and recommendations for implementers.
Downlaod Paper: Designing sanctions and their enforcement for beneficial ownership disclosure
Research Paper (Open Ownership)
Technical assistance to develop research methodology for conducting the AML/CFT sectoral risk assessment of the banking sector and payment service providers in the Kyrgyz Republic; and conduct training and workshop of the relevant competent authorities in Kyrgyz Republic on establishing effective AML/CFT risk-based supervision of banks and payment service providers.
Kyrgyz Republic (Central Asia)
Technical assistance to the Financial Regulatory Commission, Mongolia, in drafting the law to effectively regulate and monitor the activities of dealers in precious metals and precious stones in Mongolia, especially considering their AML/CFT obligations, while also conducting an impact assessment of the draft law associated with a cost estimation.
Mongolia (East Asia)
Technical assistance to Tajikistan on national risk assessment of Proceeds of Crime and Terrorism Financing.
Tajikistan (Central Asia)
2021 Projects
Developed a step-by-step guideline on identification of beneficial ownership for law enforcement authorities (LEAs) and reporting entities in Kosovo. Conducted workshops on BO for financial institutions and LEAs, respectively.
Kosovo (Southeastern Europe)
Reviewed the first draft of the National Risk Assessment (NRA) report of Romania and contributed to the workshop discussing key expert findings and recommendations. Conducted a series of focus group discussions with stakeholders of the national AML/CFT framework to determine any areas for improvement in the draft NRA. Hold a working meeting to discuss preliminary ideas for the AML/CFT Action Plan.
Romania (Central and Southeastern Europe)
Technical assistance to the Republic of Marshall Islands (RMI), especially the Office of Banking Commission (FIU) for the purpose of preparing the third-round mutual evaluation of RMI by the APG.
Republic of Marshall Islands (RMI) (Asia / South Pacific)
Technical assistance to the University of Tirana (Albania) to develop a curriculum on ‘Combating Illicit Financial Flows’.
Albania (Southeast Europe)
Legal Opinion on the draft law amending the provisions related to the 'politically exposed person' in the AML/CFT law of Ukraine.
Ukraine (Eastren Europe)
Develop a policy brief on transparency of beneficial ownership of trusts, clearly identifying the key gaps in the research and unanswered questions which need in-depth research to better support governments in working through the relevant issues relating to beneficial ownership transparency of trusts.
Research Paper for Open Ownership (Global Impact, USA)
An introduction to trusts by Dr. Ramandeep Kaur Chhina
Beneficial ownership transparency of trusts by Dr. Ramandeep Kaur Chhina
Provide technical assistance to Kosovo to enhance the transparency of beneficial ownership under GIZ Global Programme on ‘Combating Illicit Financial Flows’ by drafting the Law on Register of Beneficial Owners in close consultation with the national multi-agency working group.
Kosovo (Southeast Europe)
Analyse the laws and regulations applicable to beneficial ownership in Myanmar and develop a legal gap analysis report with practical recommendations, including for improvement of the legislative framework and the practices
Myanmar (Burma) (Southeast Asian)
Technical assistance to the Czech Republic for the development of guidelines to assist NPOs in conducting their ML/TF risk self-assessment and detecting ML/TF
Czech Republic (Central Europe)
2020 Projects
Technical assistance to Serbia to draft a technical paper providing a comparative study of AML/CFT supervisory methodologies on virtual asset service providers (VASPs) with focus on good supervisory practices
Technical Paper : Virtual Assets and Virtual Assets Service Providers: Analysis of AML/CFT Regulatory, Supervisory and Oversight Approaches and Challenges
Serbia (Central and Southeast Europe)
Develop a Presentation on the transparency of beneficial ownership of trusts and similar legal arrangements and deliver it in a two-days online integrated panel discussion “Financial Monitoring 2020”, organised by the FIU, Ukraine.
Ukraine (Eastern Europe)
Technical assistance to the Republic of Albania to finalise the draft law on ‘Centralised Register of Bank Accounts’.
Albania (Southeastern Europe)
Technical assistance to Bulgaria for the development of AML/CFT Action Plans following National Risk Assessment
Bulgaria (Southeast Europe)
AML/CFT training for investigators, prosecutors and judges and their respective training institutions in countries of Central Asia
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan (Central Asia)
Technical and advisory services for the development and delivery of a sustainable AML training program that will enhance the capacity of Sri Lanka’s relevant regulatory bodies in identifying, managing, and assessing ML/TF risks in the casino sector.
Sri Lanka (South Asia)
Technical Assistance to Samoa to conduct national risk assessment in the field of AML/CFT
Samoa (Asia-Pacific)
Technical assistance to the Republic of Marshall Islands (RMI) on the country’s technical compliance with the revised FATF Recommendations.
Republic of Marshall Islands (RMI) (Asia / South Pacific)
Technical assistance to Philippines in the conduct of AML/CFT sectoral risk assessment
Philippine (Southeast Asia)
Training to Taiwan financial institutions on the financial crime and other risks associated with Cryptocurrencies, Bitcoin, Anti-Money Laundering, Virtual Assets and Virtual Currency
Taipei, Taiwan (East Asia)
Technical Assistance to Montenegro to review regulations establishing Beneficial Ownership Registry
Montenegro
2019 Projects
European Union country-level assessments on effective implementation of 4th EU Anti-Money Laundering Directive
European Union
AML/CFT needs assessment of relevant institutions in Ukraine, Georgia, and Armenia to assess the level of technical assistance and capacity building support required from donors in their fight against AML/CFT
Kyiv, Ukraine (Eastern Europe) ; Tbilisi , Georgia (Europe, Asia) ; and Yerevan, Armenia (Europe, Asia)
Technical assistance to Albania in developing 'Guidelines and Road-map on the establishment and functioning of Beneficial Ownership Registry'
Tirana, Albania (Southeastern Europe)
2018 Projects
Tailor-made training to AML/CFT supervisory authorities in Georgia on beneficial ownership, use of offshore companies, legal arrangements, and financial flows from high-risk countries
Tbilisi, Georgia (Europe, Asia)
Developing training curriculum and 'Training of Trainers' for prosecutors and judiciary in Ukraine on the investigation, prosecution and adjudication of AML/CFT cases
Kyiv, Ukraine (Eastern Europe)
Designing training curriculum and providing 'Training of Trainers' in Serbia to police investigators on AML/CFT
Belgrade, Serbia (Central and Southeast Europe)
Delivering AML/CFT training to DNFBPs sector - accountants. auditors, real-estate agents and high-value dealers in Moldova
Chisinau, Moldova (Southeast European)
Technical Assistance to Montenegro to develop AML/CFT risk-based supervisory guidelines - DNFBPs and MVTS sector
Podgorica, Montenegro (Southeast European)
Technical Assistance in Georgia on strengthening the AML/CFT law and regulations
Tbilisi, Georgia (Europe, Asia)
Designed and delivered training to Taiwan financial institutions on Trade-based Money Laundering and FinTech
Taipei, Taiwan (East Asia)
2017 Projects
Designed and Developed anti-corruption awareness and educational materials for students at basic and secondary level of education in Albania
Tirana, Albania (Southeastern Europe)
Technical Assistance to Kosovo in reviewing the bye-law on Politically-Exposed Persons (PEPs)
Pristina, Kosovo (Southeast Europe)
2008-2016 Projects
Technical Assistance to effectively regulate and monitor gold market operations in Palestine
USAID Modernising Financial Institutions (MFI) Project , West Bank, Occupied Palestinian Territories (Western Asia)
Delivered training to Belgian Development Agency (BTC) on ‘the Evolution of Controls in Public Finance Management’
Brussels, Belgium
Countries/Region worked for/with
Albania (Southeastern Europe), Armenia (Europe, Asia), Azerbaijan (Southwestern Asia), Belgium (Western Europe), Bulgaria (South-East Europe), Croatia (Southeast Europe), Czech Republic (Central Europe), Dubai (Western Asia), Georgia (Europe, Asia), Hong Kong (Eastern Asia), Kazakhstan (Central Asia), Kosovo (Southeast Europe), Kyrgyz Republic (Central Asia), Laos (Southeast European), India (South Asia), Indonesia (Southeast European), Iraq (Middle East), Mongolia (East Asia), Marshall Islands (Asia / South Pacific), Moldova (Southeast European), Montenegro (Southeast European), Myanmar (Burma) (Southeast Asian), North Macedonia (Southeastern Europe), Poland (Central Europe), Philippines (Southeast Asia), Romania (Southeastern European), Samoa (Asia-Pacific), Serbia (Central and Southeast Europe), Sri Lanka (South Asia), Slovakia (Central Europe), Taiwan (East Asia), Tajikistan (Central Asia), Thailand (Southeast Asia), Turkmenistan (Central Asia), Tunisia (Northern Africa), Ukraine (Eastern Europe), West Bank - Palestine (Western Asia), United Kingdom (Europe) and Uzbekistan (Central Asia)
Organisation Worked with and/or for
Asia Development Bank (ADB); American Bar Association – Rule of Law Initiative (ABA-ROLI), USA; Belgian Development Agency (BTC); Council of Europe (CoE); Extractive Industries Transparency Initiative, Norway (EITI); Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Open Ownership (Global Impact, USA); Organization for Security and Co-operation in Europe (OSCE); SWIFT Institute, Belgium; Taiwan Academy of Banking and Finance (TABF); United States Agency for International Development (USAID); United Nations Office on Drugs and Office (UNODC); World Bank