|Money laundering and terrorism financing are threats that require constant vigilance. The pressure and regulatory scrutiny at the national and international levels is intensifying with the imposition upon companies of ever more complex global AML/CFT rules, including due to international financial sanctions. Accordingly, there has been a significant rise in supervisory activities and regulatory expectations, creating a zero-tolerance environment in which any shortcoming could result in serious reputational damage and heavy fines for companies or individuals.|
Every day, Arendt works to ensure that its clients remain compliant with their AML/CFT requirements in this constantly changing environment, so as not to become unknowing contributors to illicit activity.
Arendt is uniquely positioned to understand and help you face the many challenges entailed by your AML/CFT obligations. We would be pleased to assist you in the prevention and detection of ML/TF concerns and risks while also equipping your company to properly respond to any deficiencies, and to implement a suitable AML/CFT compliance programme where necessary.
We assist clients in all sectors, from investment funds and asset managers to banks, financial institutions, professional of the financial sector and insurance companies, and even non-financial actors with AML/CFT concerns. Arendt helps you operate effectively and within the bounds of your legal and regulatory obligations, advising on how to meet them for any sector and how to implement standards that ensure business integrity, compliance, transparency and security.
Contact our experts to identify the best options for you from our range of services: AMLCFT@arendt.com
Regulatory consulting matters
Stay ahead of your AML/CFT obligations
Online and on-site training performed by subject matter experts, tailored to your needs and specifics
Ongoing life cycle
Stay efficient when complying with your AML/CFT obligations
Support in the identification of Ultimate Beneficial Owners of Luxembourg entities or fiducies and trusts and related analysis, and in filing UBO-related information with the RBE or RFT to meet registration obligations under the RBE and RFT laws
Stay responsive to resolve shortcomings in your AML/CFT compliance programme
Legal assistance to properly address and respond to sanction letters, fact validating meetings, etc.
Assistance designing and implementing a remediation exercise/plan (including KYC/KYT and tax aspects) combining subject matter expertise and technological capabilities, as part of backlogs, due to trigger event circumstances, following migration of client portfolio, etc.
Assistance investigating any ML/TF incidents, allegations or suspicions to enable you to quantify, take appropriate action and prepare your case if required
AML: anti-money laundering
CDD: customer due diligence
CFT: combating the financing of terrorism
FIU: Luxembourg Financial Intelligence Unit
GP: general partner
IFM: investment fund manager
KRI: key risk indicator
KYC: know your customer
MLRO: money laundering reporting officer; RC: responsable de contrôle
OSI: on-site inspection
RBO: Register of Beneficial Owners; RBE: registre des bénéficiaires effectifs
SAR: suspicious activity report
STR: suspicious transaction report
TFS: targeted financial sanctions
UBO: ultimate beneficial owner
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22/06/18 - 5th AML Directive - Key aspects
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