Fighting money laundering and terrorist financing contributes to global security, integrity of the financial system and sustainable growth. Laws to combat money laundering and the financing of terrorism are designed to prevent the financial market from being misused for these purposes.
The EU has been constantly preoccupied with preventing the misuse of the financial system for the purposes of money laundering, constantly revising the legislation in order to mitigate risks relating to money laundering and terrorist financing.
In recent years, all eyes are wide open for money laundering making it more and more challenging for companies to carry out once ordinary activities. Throughout the EU, banks in particular are being very careful when it comes to identifying and verifying the identity of clients, monitoring transactions and reporting suspicious transactions. Consequently, more and more transactions raise suspicions and fall under the radar.
Our specialized team of lawyers provides legal assistance regarding all aspects related to ensuring compliance with the AML regulations (including those regarding the identification of the beneficial owner, legal reporting obligations and the measures to be taken within the client’s organization during the “know your client” process), as well as in relation to the banks and other competent authorities in AML related matters.