Banks, payment processing companies, insurance companies, investment firms, etc. are subject to the Act relating to Measures to Combat Money Laundering and Terrorist Financing. This means that the undertakings are required to implement a number of measures to uncover whether their customers are involved in money laundering or terrorist financing.
An effective compliance with the regulatory framework requires the undertakings to understand their own risk, establish customised procedures, as well as ensuring that these are complied with in practice.
We possess extensive anti-money laundering expertise. Several of our lawyers have work experience from relevant public authorities. This means, among other things, experience with on-site inspections, as well as with national and international regulatory development in the field.
We assist undertakings subject to reporting requirements with the execution of risk assessments, establishment and maintenance of procedures, as well as interpretation and practical compliance with the regulatory framework. In addition, we advice undertakings in connection with, among other things, implementation of on-site inspections, management of risk customers in practice and assessment of reporting requirements.
Issues related to compliance with the anti-money laundering regulatory framework often involve practice areas such as data protection, compliance, investigations and corporate penalty. In addition, anti-money laundering has become an important part of M&A processes in banking and finance. Our lawyers collaborate across practice areas to find the best way to meet clients' needs.
Assistance in conducting risk assessments
Assistance in establishing and maintaining procedures
Interpretation and practical compliance with the regulatory framework
Assistance in connection with on-site inspections
Advice relating to management of risk customers and reporting requirements
Employee training assistance
Assessment of regulatory framework compliance
Contact with public authorities
The team has quite a good depth of resources, efficient processes and good cross-border capabilities.