Compliance Services

An independent review of the company’s internal AML policies and procedures. During the audit, we compare the client’s existing regulations with AMLD requirements, national legislation, and FATF recommendations. The audit results are presented in a report with specific recommendations: which policies need updating, which procedures need implementation, and which risks need priority remediation.

The audit includes assessment of customer due diligence processes, transaction monitoring, internal reporting systems, and the mechanism for detecting suspicious activities (SAR). The report contains not only a list of non-conformities but also a prioritized remediation plan with timelines and responsible parties. AML audit pricing starts from EUR 3,000/year (average cost—EUR 10,000/year depending on complexity), with a turnaround of 30–40 days from the moment all documents are received.

Employee training is a mandatory requirement of AMLD for all regulated organizations. COREDO develops training programs tailored to the client’s specific business: sanctions screening, transaction monitoring, customer due diligence, identification of PEPs (politically exposed persons), and recognition of suspicious activities.

Training formats range from one-time workshops to periodic programs with testing and certificate issuance. Programs are developed with consideration of the national legislation of the jurisdiction in which the client operates. We adapt materials for different levels: basic training for front-office staff and advanced training for compliance teams and management.

Complete outsourcing of AML functions for companies requiring a functioning compliance infrastructure without hiring an in-house team. We take on the full cycle: client verification during onboarding, risk profiling, transaction monitoring setup and execution, periodic reviews, and report preparation.

This service is suitable for startups at the licensing stage, companies with low client volume, and businesses scaling operations needing external support during the transition period. AML function outsourcing allows the company to focus on core business while delegating compliance processes to a team with proven expertise. COREDO offers tiered AML outsourcing rates: 5 hours — EUR 550; 10 hours — EUR 1,000; 20 hours — EUR 1,800; 40 hours — EUR 3,200; 80 hours — EUR 5,600.

Client verification services (Know Your Customer) and counterparty verification (Know Your Business). We conduct a complete spectrum of checks: beneficial owner identification, screening against sanctions lists (EU, OFAC, UN), PEP status verification, and client risk assessment.

CDD is one of the key FATF requirements (Recommendation 10) and is mandatory for all regulated organizations when establishing business relationships, conducting transactions above established thresholds, and when money laundering is suspected. COREDO provides both standard (Standard CDD) and enhanced verification (Enhanced Due Diligence, EDD) for higher-risk clients—PEPs, clients from high-risk jurisdictions, companies with non-transparent ownership structures. We also configure ongoing monitoring processes for periodic updates of existing client information.

Money Laundering Reporting Officer (MLRO) is a designated person responsible for AML compliance. MLRO appointment is mandatory for most financial institutions in the EU. COREDO provides MLRO outsourcing services for companies requiring a qualified specialist but lacking the capacity or need to hire a full-time employee.

Our MLRO assumes functions including: oversight of AML procedures, receipt and review of internal suspicious activity reports, submission of SARs (Suspicious Activity Reports) to the competent authority, coordination with the regulator, and monitoring of compliance plan execution. COREDO offers AML outsourcing at rates from EUR 80 to EUR 130/hour depending on volume: up to 5 hours—EUR 130/hour, from 20 hours—EUR 100/hour, from 80 hours—EUR 80/hour. MLRO outsourcing in the Czech Republic costs EUR 2,400 + VAT/month (includes a Standard subscription for 20 hours and MLRO specialist remuneration). For other jurisdictions, pricing is determined individually.

Setup of internal reporting channels for violations in accordance with the EU Whistleblower Directive (2019/1937). The Directive requires organizations with 50 or more employees (as well as all public sector companies and municipalities with populations above 10,000) to establish protected channels for reporting violations.

COREDO develops and implements a complete package: internal procedures for handling reports, technical reporting channels (written, oral, online platform), feedback mechanisms to the reporter within established timelines, and protection of the reporter from retaliation. For companies with 50–249 employees, the deadline for implementing internal channels expired in December 2023, and the absence of such a system may result in sanctions. In the Czech Republic, the corresponding requirements are enshrined in Act No. 171/2023 Coll. (Whistleblower Protection Act), which applies to employers with 50 or more employees.