Conduct regular/surprise inspections of SCA-licensed companies to evaluate their anti-money laundering and counter-terrorism financing measures.
Conduct off-site inspections.
Follow up on the correction of the shortcomings revealed by independent inspections.
Conduct audits and gather sufficient evidence and proof of the shortcomings and violations attributed to SCA-licensed companies.
Raise the awareness of licensed entities and SCA employees about the anti-money laundering and counter-terrorism financing measures, in cooperation with the Awareness and Education Section and the Professional Knowledge Management and Capacity Building Section.
Keep up with the relevant international standards and propose necessary changes and modifications.
Provide guidance to core employees about the application principles relating to compliance, implementation, and best practices to enforce laws, rules, and regulations pertinent to anti-money laundering and counter-terrorism financing crimes, including offering assistance with the development of a risk-based approach (RBA) according to their job nature and functions.
Inform SCA-licensed companies of the initial findings of the inspections and reviews conducted and study the comments received back from these companies.
Meet with SCA-licensed companies to discuss the findings of the inspections and reviews.
Prepare reports and communicate the final findings of the reviews and inspections of licensed companies to the section head before notifying the companies of their shortcomings and referring violators to the relevant departments.
Respond to queries and consider matters raised by internal or external parties.
Take part in making suggestions aimed at improving and amending the existing legislation, policies, and measures relating to anti-money laundering and counter-terrorism financing.
Perform any task assigned by the section head.