The firm provides specialized services for Full Fledged Money Changers (FFMC) including concurrent audit as per RBI guidelines, regulatory compliance, and advisory services for foreign exchange operations.
FFMC Services
FFMC Concurrent Audit
- Monthly concurrent audit as per RBI guidelines
- Transaction verification and validation
- KYC/AML compliance review
- Foreign exchange transaction audit
- Regulatory compliance assessment
- Audit report submission to RBI
Regulatory Compliance
- FEMA compliance
- RBI circular implementation
- PMLA compliance
- Reporting to authorities
- License renewal assistance
- Inspection readiness
Documentation & Reporting
- Transaction documentation review
- Statutory register maintenance
- Monthly return preparation
- Annual compliance certificate
- Regulatory correspondence
- Record keeping compliance
Advisory Services
- Compliance framework setup
- Policy and procedure development
- Staff training on compliance
- Risk mitigation strategies
- Operational process review
- Technology system compliance
Regulatory Framework
FEMA
Foreign Exchange Management Act
RBI
Reserve Bank Guidelines
PMLA
Prevention of Money Laundering