CYW managing director, Andrew Parr, announced today that CYW Solutions have developed a software product to stop small and medium businesses being victims to theft and fraud.
CYW was originally registered in Kington in the UK but closed that office because of Brexit but has launched in Cyprus to expand into the European market
Andy Parr says, "We closed the Kington office in the UK because of issues with Brexit and because it was just a virtual footprint – we never conducted business from the Kington office. The new office in Paphos, Cyprus will give us access to the EU to help business reduce the amount of fraud and theft committed against them."
CYW has recently developed an IT solution called ‘Aranea’, the software allows encrypted messaging to encourage reports of illegal activity within the firm to its compliance or management team.
The encrypted messaging application allows anyone who the firm gives access to it, to report wrongdoing internally, this cuts the opportunity for internal theft or fraud and stops losses. The firm can give access just to internal employees, or the wider business ecosphere, including suppliers and customers. Crucially, the system is completely anonymous, meaning people reporting need not be identified.
Andy adds, “The business is going from strength to strength and with the move into the EU we aim to help business manage KYC, whistleblowing and GDPR risks. We help firms get a grip of their risk and work inside set procedures to ensure they do not become embroiled in customer or internal risk causing losses to their reputation and financially.”
The company works in partnership with its clients to help them build compliance, fraud, theft and risk programs centred around innovative IT and improved employee skillsets. This includes providing policies, processes and procedures and also training documents and manuals. All can be stored securely via encrypted hosted environments.
“Our training service includes access to a learning environment to record who was taught what and when so the client can demonstrate a learning culture aligned to risk regulations like AML/CTF or GDPR.
With Andy at the helm, a senior retired Police Detective with 26 years fighting crime and managing the rigours of regulation and legislation, CYW Solutions can provide bespoke services to firms looking to manage their risk profile.
CYW Solutions is expanding internationally having recently been successful securing funding to further develop its bespoke software and financial compliance consultancy. For more information on how CYW Solutions can help you contact Andy Parr via the website.