Strict Anti-Money Laundering Regulations in French Polynesia

French Polynesia, an overseas collectivity of France, has implemented robust anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations to combat financial crime. Financial institutions operating in the territory must adhere to these regulations to maintain a reputation for integrity and avoid heavy fines.

A Robust Framework

The Financial Intelligence Unit (FIU) is responsible for monitoring and analyzing suspicious transactions, collaborating with financial entities, and sharing information with regulatory authorities. Tracfin, France’s financial intelligence agency, has built partnerships to develop strong relationships and improve reporting capabilities.

Compliance Solutions for French Polynesia

To ensure compliance, MemberCheck offers a range of solutions tailored to the needs of financial institutions in French Polynesia:

PEP and Sanction Check

• Scan clients against global PEP & sanction data sources.
• Stay up-to-date on risks by using reliable worldwide media.

Adverse Media Check

• Verify customer identities to avoid non-compliance consequences.
• Collaborate with accredited consultants to assess AML/CFT risk.

AML Consulting Service

• Ensure compliance and protect your business.

Creating a Culture of Compliance

Entities in French Polynesia are encouraged to create a comprehensive compliance framework, which encompasses all aspects of operations:

1. Knowing and following regulations set by authorities.
2. Complying with laws, regulations, and ethical principles.
3. Providing training on avoiding non-compliance risks.
4. Collaborating with clients who adhere to international AML/CFT norms.
5. Building a culture of compliance among personnel.

MemberCheck’s Expertise

MemberCheck offers a secure and simple solution for scanning for high-risk individuals, checking names against sanction lists, regulatory, law enforcement, and other official lists. Their sophisticated scan filters and due diligence workflow minimize the time spent sorting through false matches.

Request a Demo Today!

For more information on how MemberCheck can aid your compliance efforts in French Polynesia, request a demo today. This will provide you with access to their advanced scanning tools and reporting features, allowing you to customize reports for further investigation or auditing purposes.

Disclaimer:

This page is intended as general information only and should not be relied upon as the sole source of information for your AML obligations and AML program. Please visit your local regulatory authority sites for the latest relevant and full information.