Preventing anti-money laundering (AML) has become a significant part of a successful business. Nobody likes to be utilized for criminal purposes, fail any anti-money laundering audition executed by a business partner or get sanctions from authorities together with reputational damages. Failing in these might simply mean the end of a profitable business.
The goal of money laundering is to hide the origins or true ownership of funds. In a fast-developing regulatory environment, complying with domestic and international anti-money laundering regulations is an ongoing challenge. Lexia offers a hands-on and cost-effective solution tailored for every customers’ individual requirements.
The continuing evolution and rapid development of anti-money laundering regulations has given organizations a greater responsibility to prevent, detect and report money laundering. Lexia’s AML team understands this changing landscape. We have the experience necessary to help you minimize risks, through simple and individually tailored compliance programs and monitoring controls and to work with regulators and law enforcement.
All aspects of AML compliance
We have advised all types and sizes of financial institutions and other businesses with respect to compliance with AML&CTF laws and regulations. Our clients include financial institutions such as domestic and foreign banks, payment institutions, lending companies, insurance companies, fund managers, investment companies, foreign exchange businesses, securities dealers and virtual currency service providers, but also a wide range of other businesses outside the traditional financial services, e.g. car dealers, real estate brokerages and developers, accounting and debt collection firms etc.
Lexia advises on all aspects of AML compliance — from drafting internal policies and procedures to designing training programs to customer due diligence. When money laundering is suspected, we advise you on the reporting requirements, including whether the transaction can be completed and how to manage the risk of losing a potential customer. Due to our ability to provide our services in Finnish, Swedish and English, we have gained a wide experience to serve Nordic companies.
No matter if the client is a global group or a smaller family enterprise or anything in between – we offer proportionate procedures and solutions against the risks you face, taking into consideration the nature, scale and complexity or your activities. We analyze your unique needs, recommend efficient and reasonable solutions, and guide you through the implementation with the respect for and protection of your (and your customers’) privacy that only an effective attorney-client privilege relationship can offer.
- Advice on Finnish and European AML requirements
- Designing AML compliance programs
- AML policies, procedures, and systems requirements
- Training in AML questions (in person, webinars, e-learning for personnel, compliance officers, management and board of directors)
- Transaction counseling on AML risks
- Conducting AML compliance/risk assessments
- Gap analysis and benchmarking against leading industry practices
- Review of end-customer onboarding processes
- Counter-Financing of Terrorism (CFT)
- Due diligence involving high-risk products, transactions, services, countries, intermediaries, counterparties, and customers
- Suspicious activity investigation and reporting
- Advising and maintaining whistle blowing-channels
- Monitoring procedures, regular reviews and evaluations of implemented policies
We’ll help you to be(come) AML compliant.