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Aerospace Technical Services Raises the Bar for financial Transparency in the Aviation industry with the Adoption of a Comprehensive Revised AML/CFT Policy
DUBAI, UNITED ARAB EMIRATES, November 4, 2024 /EINPresswire / -- Aerospace Technical Services (“ATS”), a leading global distributor of aviation parts and provider of maintenance, repair, and overhaul (MRO) services, has officially adopted a newly revised Anti-Money Laundering and Countering the Financing of
terrorism (AML/CFT) Policy. This strategic initiative reflects ATS's unwavering commitment to financial transparency and its role in upholding the highest international standards of compliance in the aviation industry.
The aviation sector, with its global reach and complex supply chains, is particularly susceptible to the risks of financial crime. As a global player in this field, ATS understands that real excellence goes beyond technical compliance-it requires an equally robust and reliable financial compliance framework. In today's fast-paced and interconnected world, it's not just about tracing the origin and destination of aircraft parts; it's about ensuring that every financial transaction, from procurement to payment, is thoroughly scrutinized and beyond reproach.
“Reliability is at the core of our operations at ATS. We strive not only to trace the journey of every part we supply but also to trace every dollar that moves through our system,” said Mohammad Fleih Muhsen AlMnaizel, Chief Executive Officer and Chairman of the Board.“Our revised AML/CFT Policy is a testament to our commitment to maintaining the highest levels of financial integrity and transparency. We are proud to say that ATS's internal financial controls are on par with the best international standards, ensuring that no untoward activity finds gaps to exploit.”
The newly adopted policy includes stringent internal financial controls designed to mitigate the risk of money laundering, terrorist financing, and other illicit activities. By incorporating a risk-based approach and ensuring that all transactions are thoroughly vetted and monitored, ATS guarantees that its supply chain remains secure not only from a technical standpoint but also from a financial one. These controls are embedded into the very fabric of ATS's business processes, from the onboarding of customers to the final transaction of payments, ensuring full compliance with global regulations and industry standards.
“At ATS, we recognize that the aviation sector operates within a high-risk global environment, and our reputation is built on trust and transparency,” said Hajar Mohammad Mousa AlSafartee, Chief Operating Officer and Vice-Chair of the Board.“Our AML/CFT Policy goes beyond the minimum legal requirements. It demonstrates our proactive approach to financial compliance, ensuring that every financial interaction, no matter how small, is subjected to rigorous scrutiny. This is about protecting not just our company but our clients and partners across the globe.”
One of the standout features of ATS's revised AML/CFT Policy is its seamless integration with the company's broader compliance framework, including its technical compliance with ASA-100 and AS9120 standards. For ATS, tracing the flow of money is as important as tracing the flow of parts, and both are fundamental to maintaining its market-leading position. By embedding financial transparency into every aspect of its operations, ATS ensures that its customers, partners, and stakeholders can rely on the company's integrity without question.
“Our approach to financial compliance is as thorough as our approach to technical compliance,” added Hasna Fayyed, Board Member and General Manager.“We don't just check boxes; we go the extra mile to make sure that everything from the origin of the funds to the final transaction is entirely above board. By doing this, we not only meet global regulatory standards but exceed them, positioning ATS as a leader in financial transparency in the aviation sector.”
In line with its newly revised AML/CFT Policy, ATS is also implementing a range of training programs for employees, third-party suppliers, and business partners. These programs are designed to ensure that every person involved in ATS's operations understands the importance of financial compliance and the role they play in maintaining ATS's industry-leading standards. Moreover, ATS will continuously assess and refine its AML/CFT measures to keep pace with emerging risks and changing regulatory landscapes.
This initiative marks another significant milestone in ATS's journey towards operational excellence, solidifying the company's reputation for reliability, transparency, and ethical business practices. As ATS continues to grow its global footprint, it remains deeply committed to ensuring that its financial compliance measures are as cutting-edge as its technical capabilities.
About Aerospace Technical Services (ATS)
Aerospace Technical Services was established in 2003 with operations in Jordan and a branch office in the UAE. As a leader in aviation maintenance and repair services, ATS is recognized for delivering high-quality solutions that support airlines, cargo operators, and fleet managers globally. The ATS Group's subsidiaries-ATS Co., ATS Technic, and ATS Medical Supplies-serve distinct yet interconnected sectors of the market, providing a comprehensive range of services to meet the evolving demands of the aerospace industry.
For more information about ATS and its commitment to financial and technical compliance, please contact: ... or visit or .
ATS Media
Aerospace Technical Services
+971 4 595 3444
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