Changing the world of compliance
The first online compliance back office. FirmQ is a web-based service platform with real time compliance officers and risk managers. Our services are 24/7 available.
Our vision
AML
Financial crimes, such as money laundering and corruption, are the most destructive ingredients for the economic welfare of our society. The battle against these crimes is also known as Anti Money Laundering (AML) and has been institutionalized in the European Union by the European Commission in Anti Money Laundering Directives (AMLD’s).
Gatekeepers
Subsequently, it is mandatory for the financial industry and associated market segments in the EU to have a strict compliance organization. Each and every single company is individually responsible for adequate Know Your Client (KYC) and Customer Due Diligence (CDD) policies & procedures.
Changing the world of compliance
FirmQ has developed an online compliance back office where its clients can comply with all regulations regarding the AMLD’s of the EU. However, our vision contains an innovative perspective where AML regulations allow us to centralize our joint effort to fight the financial criminals.
Do you want to learn more about the FirmQ vision, please download our Whitepaper.
Our welcome to you
FirmQ works virtually paperless, which helps reducing the use of energy and CO2 emissions.
However, our services depend also on data centers and although these companies try to save energy as well, it is inevitable that coming years not all electricity is being produced without any CO2 emission.
FirmQ gives a warm heart to Trees for All.
Trees for All is a Dutch foundation, founded in 1999, devoted to creating more forests in the world. Their mission is to plant new forests worldwide and to restore existing forests. They invest in a green and healthy planet for everyone and FirmQ wants to support this.
Therefore, we are committed to support Trees for All, by giving each new client of FirmQ a welcome present of 50 new trees!
Together we ensure CO2 compensation and a healthier world!
Our client profiles
Our client portfolio contains three type of clients: financial institutes, regular service providers and non-profit organizations.The FirmQ tool allows any company under AML regulations to comply with the law at all times.
Financial Institutes
Examples of financial institutes are:
- Banks
- E-money institutes
- Payment service providers
- Corporate service providers (trust offices).
These companies are the so called ‘Gatekeepers’ of our financial and monetary system and have to comply with both financial laws as well as AML legislation.
Obtaining the proper license is complex and applicants need to meet very specific requirements. Supervisory authorities DNB and AFM maintain strict and ongoing supervision. Key elements are Know Your Client (KYC) and Customer Due Diligence (CDD). Enhanced client research, risk analyses and ongoing transaction monitoring are an essential part of their daily business.
Our consultants have adequate knowledge of the relevant laws and regulations (Wtt, Wwft). FirmQ is fully equipped to support financial institutes with their obligation to comply with the AML legislation.
Regular Businesses
In addition to the financial institutes, we also have regular business clients, such as:
- Notaries
- Real estate agents
- Car dealers
- Accountants
- Crypto currency traders.
Based on the EU Anti Money Legislation Directives (AMLD’s), it is mandatory that these companies comply with national AML legislation. Therefore, AML regulated markets do not only have to perform adequate risk-based client research (KYC and CDD) but when clients are accepted, ongoing sanction screening and transaction monitoring is mandatory on a 24/7 basis.
The FirmQ online compliance back office can assist and support you with this obligation.
Non-profit
Similar to the AML regulated markets, Non-profit organizations must also know their customers and perform an ongoing client due diligence. Large donations may for instance be vulnerable for money laundering or corruption and should therefore be carefully screened and monitored. The FirmQ back office is fully equipped for this important responsibility.
Examples of Non-profit are the Government (national and local), NGO’s and Charity foundations.