Introducing the perfect ally for the compliance team of your company

Compliance obligations and best practices go way beyond the mere implementation of Self-Control and Risk Management Systems regarding Money Laundering (“ML”), Financing of Terrorism (“FT”), Financing of the Proliferation of Mass Destruction Weapons (“FPMDW”), Corruption (“CO”) and Transnational Bribery (“TB”).

Self-Control and Risk Management Systems are “living creatures” that require constant and permanent actions not only by the company´s compliance team but also by its employees, officers, directors and shareholders, to comply with regulatory and internal policies, best practices and obligations.

And more often than not, compliance with said regulatory and internal policies, best practices and obligations requires significant effort and time from a significant number of persons at different levels, jurisdictions, branches and divisions.  Therefore, effective auditing to assess whether everyone is doing what they are supposed to, is difficult and many times just impossible.

On top of that, companies also struggle in keeping up with new regulations, court precedent and opinion letters issued by different authorities at different government levels, so they often end up, without even noticing, having outdated Self-Control and Risk Management Systems, or lacking new best practices or just breaching applicable regulation.

And although the RegTech movement is not new, and software solutions are rapidly gaining space in more aspects of our lives and our day-to-day activities, these sort of tools are not yet used and taken advantage off in LATAM regarding Self-Control and Risk Management Systems. Actually, based on our experience advising many companies in the region, for many years, we believe that no matter the size of the companies, or their industry, or the jurisdictions they operate in, Self-Control and Risk Management Systems monitoring and control activities are still performed with traditional inefficient tools, designed for other purposes, that not only make it very difficult to audit, manage and control relevant risks, but fail to accomplish the ultimate goal:  effectively and efficiently mage and mitigate the risks.

Our CMS RegTech team has developed GEORGE, a robust sophisticated software, to help companies and their compliance officers, together with our CMS Compliance team, to: