In
light of the anti-money laundering and the countering of the funding of
terrorism (AML/CFT) legislation, natural or legal persons conducting relevant
financial business or relevant activities are obliged to implement effective
measures and procedures to ensure compliance with AML/CFT obligations.
The
ever-evolving legislation and the increased regulatory enforcement in the
AML/CFT sphere pose several difficulties for subject persons to be
law-compliant.
Mifsud
& Mifsud Advocates offers advice in relation to compliance with AML/CFT
obligations to all subject persons. Being well-aware of the legal, reputational
and regulatory risks involved in the AML/CFT area, our team offers assistance to
subject persons to better understand AML/CFT legislation and to develop the
relevant measures and internal policies. Assistance in onboarding clients and
in training employees is also offered. Adherence to such regulations will in
turn mitigate the above-mentioned risks and guarantee business stability.
Mifsud
& Mifsud Advocates also offers assistance in drafting representations and
clarifications following compliance reviews and examinations by supervisory
authorities, and in appealing any fines imposed by such.