The new obligations require Extrado to invest in:
- compliance software;
- identity and entity verification;
- ongoing screening and monitoring;
- staff training;
- record keeping;
- risk assessment; and
- independent review of our AML/CTF program.
These requirements create both direct out-of-pocket costs and additional time costs.
Whether these costs are included in your existing fees or charged separately will depend on the services and entities involved. Any applicable verification or ongoing compliance charges will be clearly disclosed to you.
