AML Seminar 2024-1-31
We are going to organize a zoom seminar on Introduction to AML for CSA with the emphasis on Risk Analysis Reporting.
If you are interested, please sign up using the Google link here.
Seminar Title: Introduction to AML for CSA (202401)
Time:January 31, 2024 (15:00 to 16:30)
Format: Zoom Meeting
To Register: https://forms.gle/vipCYryE4tg32u5Z7
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Introduction to AML for CSA (202401) forms.gle |
Agenda
- Client Confirmation, KYC, RBA, CDD, Sanction and Fugitive Checks (ad hoc and the entire database), PEP and Training
- How to run the Risk Analysis Report
- Question and Answer period
If you have any question about the program, please ask before or during the seminar or call me at 2521-3110.
Oscar Lo
AML Seminar 2023-11-23
Seminar Title: Introduction to AML for CSA (202311)
Time: November 23, 2023 (15:00 to 16:30)
Format: Zoom Meeting
To Register: https://forms.gle/ZWuec6NadHMhg3vj9, Introduction to AML for CSA (202311)
Agenda:
Client Confirmation, KYC, RBA, CDD, Sanction and Fugitive Checks (ad hoc and the entire database), PEP and Training, How to run the Risk Analysis Report, Question and Answer period
If you have any question about the program, please ask before or during the seminar or call me at 2521-3110.
Oscar Lo
CR revised 117 specified forms
The Companies Registry (“CR”) has revised 117 specified forms for the major purposes of:
- adopt the Business Registration No. as the Unique Business Identifier (“UBI”) of a company,
- a new structured format for reporting addresses,
- revised format for reporting details of shareholders and,
- addition of fields for reporting of Trust and Company Service Provider’s (TCSP’s) licence number for a company secretary.
Transitional Period:
The implementation date is 27 December 2023. There is a transitional period of 6 months that both old and new forms are accepted, except:
- NNC1, NNC1G, NNC5, and NN1 have a shorter transitional period of 4 weeks. Only new forms are accepted from 25 January 2024 onwards
- forms for open-ended funds do not have any transitional period
Arrangement of CSA update:
We will update NNC1, NNC1G, NNC5, and NN1, as well as NAR1 and NN3 in early December 2023.
The remaining forms will be released phase by phase in 2024 before the expiry of the said transitional period.
Reference:
For detailed information, please refer to the following official web pages:
CR’s External Circular 2/2023:
Revision of Specified Forms and Administrative Form for Implementation of Phase 2 of Unique Business Identifier
https://www.cr.gov.hk/en/publications/circulars/external-guidelines.htm
Revised Forms in Word Format:
https://www.cr.gov.hk/en/revisedform.htm
If you have any question about the program, please ask before or during the seminar or call me at 2521-3110.
Beatrice Lai
AML Seminar 2023-09-21
We are going to organize a zoom seminar on Introduction to AML for CSA with the emphasis on Risk Analysis Reporting.
If you are interested, please sign up using the Google link here.
Seminar Title: Introduction to AML for CSA (202307)
Time: September 21, 2023 (15:00 to 16:30)
Format: Zoom Meeting
To Register: https://forms.gle/3JWVGgRHCY9husVQ6
Agenda:
Client Confirmation, KYC,
RBA, CDD,
Sanction and Fugitive Checks (ad hoc and the entire database),
PEP and Training,
How to run the Risk Analysis Report.
If you have any question about the program, please ask before or during the seminar or call me at 2521-3110.
Oscar Lo
Import/Export Job Assignments
We have received a request from our user Cheng & Cheng CPA on the ease of entry for addition and amendment of existing jobs using Excel worksheet. Instead of make it as an individual project, we have decided to turn this into a standard feature.
That means user will be able to EXPORT the job assignment to a specified Excel worksheet. User can add or amend the content and IMPORT in back to the system.
The reason is that it is easier for manager to view the entire job assignment from an Excel printout and make correction instead of editing it using the web-based system based on the speed of the Internet connection.
By doing so, it can combine the ease of working on paper or Excel and still get the benefit of the web-based system by working anywhere.
Multiple Opening of the Same Invoice
A user has reported to us that they have two supervisors trying to approve the same invoice. Because of the timing difference, it has resulted the confusion in the allocation of invoice number.
For example, the first one approved the invoice, the system allocates invoice number “101”. At just a second, the second supervisor approves the same invoice, the system allocates invoice number “102” to it.
There is really no financial implication to the two transactions since there is only one invoice got approved.
However, it does result the skipping of the invoice number “101” not being used. We are going to disallow the second approval once the request goes to the server and the system found out that the invoice has already been approved.
Once we are done with the changes, we will update your system.
Thank you very much for all your help!
2022 AML Amendment Bill
The pending legislation is to require Virtual Assets and Precious Metals and Stones dealers to register and to keep all transactions for law enforcement and audit purposes.
We may need to include a different set of CDDs for VA and PM/S dealers if the law get passed.
Seminar on AML
Seminar: Introduction to AML for CSA
Agenda:
1. How to handle the AML ordinance using the new program.
2. Walking through the features in AML: Client Confirmation, KYC, RBA, CDD, Sanction, PEP, Sanction, and Training
3. Question and Answer period
Time: August 16, 2022 (15:00 to 16:30)
Format: Zoom Meeting
To Register: https://forms.gle/xCgXLvVuqfg39hhf6
or
If you have any question about the program, please ask before or during the seminar or call me at 2521-3110.
Sincerely,
Oscar Lo
2521-3110
oscar@plsoft.com
Wanted Lists for AML
You may have noticed that we have established a Wanted List in our website to check whether an individual is wanted by the Interpol as well as other law enforcement agencies.
We are going to incorporate this useful feature into the AML system.
Invoice Register
We are going to make the change to the Invoice Registry Report for more information to users.
- We have added a separate row called Customer Advance. When a customer sends in a payment which is more than the invoice amount, user can first click the Customer Advance box for the excess amount, then press “Auto” to generate the correct journal entry. By doing so, the system would automatically generate an Advance account for the customer. The chart of accounts structure is AD-Customer Number. AD means Advance and Deposit from Customer.
- We have expanded the annotation to indicate whether the status of an invoice. The basic status tells an invoice Settled (S), Outstanding (O) or,Cancelled. However, we have added the seasons as Fully Paid (FP), Advance and Deposit (AD), Credit Note issued (CN), Write-Off (WO) and Partial Paid (P). For a fully paid invoice with payment, the annotation will be S+FP. For a fully paid invoice with excess payment, the annotation will be S+FP+AD. For a settled invoice with some payment and write-off, the annotation will be S+P+WO. The purpose is to provide more information to readers of the Invoice Registry.