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AML compliance assessment and document development in accordance with the requirements of anti-money laundering laws

AML - or Anti Money Laundering, is regulated at the national level by the AML law of each country (the name varies from country to country) and applies to specific types of economic activities determined in the AML laws, unfortunately, not all businesses are aware of the existence of these norms, and are not aware of the requirements imposed on them, which may result in significant penalties, or in the worst case, the company may be wound up and the members of the board/directors may be banned from holding the post of board member/director entirely.

In addition to the AML laws, the countries of the European Union have implemented the laws of the International and national sanctions at the national level, with some nuances these laws and their penalties are similar. Sanctions risk management procedures must be documented for the same entities to which the AML rules apply.

It is possible to integrate the requirements of the Sanctions into AML procedures so that there is no need to perform a separate process, thus saving time in carrying out the necessary inspections on a daily basis.

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