Barbados MLFTA Compliance Just Got Easier!

Christ Church, Barbados, February 17, 2016 (Newswire.com) - Smith Compliance Consulting Inc. in collaboration with Outlier Solutions Inc. have launched online, on demand compliance solutions for companies in Barbados. Launched earlier today via the website www.outlierbarbados.com, these solutions allow companies to create Anti-Money Laundering and Counter Terrorist Financing Programmes to comply with Barbados' Money Laundering and Financing of Terrorism (Prevention and Control) Act (MLFTA) within minutes.  These on demand products are customized through a "setup wizard" that generates easy to edit documents in Microsoft Word format.

Currently, programmes are on offer for accountants, corporate and trust service providers, insurance companies, lawyers and the real estate industry, with more industries slated for later this year. If a programme is needed, and no online, on demand products are available (or if a more customized solution is required), Managing Director Glenna Smith encourages companies to get in touch with Smith Compliance Consulting Inc.  "Collaboration with Outlier is the tip of the iceberg" says Smith. "Smith Compliance Consulting has been here working with companies in Barbados for several years.  There is a lot of excitement about launching a solution that is cost effective for small to mid sized businesses. Having the programme in place is the first step.  Rest assured, staff will be here to work with clients every step of the way."

Smith Compliance Consulting has been here working with companies in Barbados for several years. There is a lot of excitement about launching a solution that is cost effective for small to mid sized businesses.

Glenna Smith, Founder, Smith Compliance Consulting Inc.

Why On Demand Products

Outlier's founder noticed two things that made her believe that on demand products could help reporting entities. First, for many small and medium sized businesses there are very similar business models and risk profiles. Second, many businesses don't have a means to pay for consulting services, but have the same obligations as larger reporting entities. She had a vision of creating a model that could level the playing field by making it easier for these businesses to create plain language documents in an affordable way. 

Outlier Solutions Inc. launched online, on demand products in Canada in 2014. A partnership with Smith Compliance Consulting Inc. and Barbados' enhancements to the MLFTA in 2011 made solutions for business in Barbados a priority.  The collaboration has been "a dream" says Amber D. Scott, Outlier Solutions Inc.'s Founder & Chief AML Ninja. "Glenna is absolutely one of the foremost experts in the Caribbean today, and she compliments that knowledge with a winning personality."

Contact

For more information, visit us at www.outlierbarbados.com, or contact us at info@outlierbarbados