Full Compliance Services:

Global Project Engineering Banking Compliance Services:

Global Project Engineering is a full service provider that collects, structures and delivers all the data required by the Banks to fulfill their own Compliance regulatory requirements.

Please Note: This service is performed in a non-intrusive manner so as not to disturb the customary Project Management Process. Furthermore, this service can be performed world-wide even in difficult or dangerous regions. We thereby present from the start a complete data package, which exceeds the investigative requirements of the Bank, thus also guaranteeing that the Project Implementation will be fully documented and traceable from beginning to end, which greatly facilitates and speeds-up the entire Project Approval Process.

Global Project Engineering Carries Out This Work In Three Stages:

STAGE 1: THE INITIAL DUE DILIGENCE DATA PACKAGE

  • Global Project Engineering documents the existence and good standing of all physical persons and legal entities involved in the project. This is provided in a digital format acceptable by the Bank’s compliance department. Global Project Engineering uses primarily open source data.
  • Global Project Engineering documents the Origin of Funds in a financial and traceable format satisfactory to the Banks. Global Project Engineering uses primarily open source data.

STAGE 2: THE TRACEABILITY OF PROJECT IMPLEMENTATION FROM BEGINNING TO END.

  • Global Project Engineering provides an audit from all financial movements. This audit is performed by a World Class Firm in a digital format acceptable to the Bank’s compliance department.
  • Global Project Engineering provides an audit for all deliverables related to quality, quantity and timing. This audit is performed by a World Class Firm in a digital format acceptable to the Bank’s compliance department.
  • Global Project Engineering provides real time Project Implementation Tracking in GIS (Geographic Information System) digital map format. The GIS file includes recurring Satellite Photos, Drone’s Photos, Ground Level Multimedia Documentaries, GPS locations of all important equipment and more. This data is collected by World Class Firms in a digital format acceptable to the Bank’s compliance department.
  • Global Project Engineering updates the Due Diligence Package throughout the life of the project. This is provided in a digital format acceptable to the Bank’s compliance department. Global Project Engineering uses primarily open source data.

STAGE 3: GLOBAL PROJECT ENGINEERING CORRELATES AND ANALYZES THE DATA IN REAL TIME. ALL DISCREPANCIES ARE FLAGGED FOR THE ATTENTION OF THE PROJECT MANAGER.

  • Global Project Engineering services are in addition to the customary accounts auditing.


Please Remember:

GPE Solution: At all stages Global Project Engineering services fulfill and exceed the regulatory requirements of the Banks, thereby offering greater visibility for Project Managers from the beginning to the end of the Project – thus helping them to avoid costly project delays or losses.

The Impact Of Data Protection Laws:

THE IMPACT OF DATA PROTECTION LAWS:

In April 2016 the European Union passed a Data Protection Law referred to as GDPR. Generally speaking this Law forbids the transmission of data, about European persons, outside of the European Union. All European Data must be stored in Europe.

This Law is in direct conflict with previous US Laws which gave complete freedom to US Agencies to collect 100% of information available on European Citizens for surveillance purposes.

Likewise, surreptitiously, and for strictly commercial purposes, some large American companies took advantage of the lack of European control and collected and exported information on all European Citizens.

This GDPR European Data protection Law will have a very detrimental effect on the International Banks’ capacity to perform their Compliance investigations.

To comply with both the European Laws and the USA Laws, starting in May 2018, the Bank Compliance Officer will have to replace the name of the European person with a code before the data is taken out of Europe.

  • GPE Solution: Global Project Engineering codes all European personal records, at the start of the process, in order to meet the GDPR requirements.

Please note that the GDPR does not directly protect the Corporate records but only the name and reference to persons contained in the Corporate records.

OPEN SOURCE DATA

Practically 80% of the data required for Compliance purposes is available on the Internet or from Commercial Data providers. Much of this information is full of errors. This information is available equally to both the Bank Compliance Officer and to Global Project Engineering.

The Bank Compliance Officer can obtain about 10% more from confidential Banking sources.

  • GPE Solution: Global Project Engineering obtains 10 % more information from the Client himself for a Total of 100%. This Client-provided information helps to correct any errors obtained from the Open Sources.

In most cases the Bank Compliance Officer is not in contact with the Client and therefore cannot correct the errors.

  • GPE Solution: Global Project Engineering also collates the information obtained from all sources throughout the duration of the Project. As a result, the overall Global Project Engineering data files exceed that which is required from the Bank under the Law.

For more information please contact Global Project Engineering.


Global Project Engineering
1 Carrefour de Rive
1207 Geneva – Switzerland
Tel : + 41 22 735 7900
Email: nesterenko@globalprojectengineering.com