Skip to content

Preparation of measures against money laundering

Legal Frame provides services related to the implementation of the Anti-Money Laundering Act (AMLA). Our lawyers provide training and advice, including the drafting of internal rules on anti-money laundering measures and accompanying documents.

In 2015. Directive (EU) 2015/849 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing was adopted. The essence was to build a system of preventive actions to prevent the financing of criminal activity.

According to the law, anti-money laundering measures are applied when a business, commercial or professional relationship is established. They cover financial transactions in the following cases:

● where the value of the transaction equals or exceeds EUR 15 000;
● for a transaction of €5,000 – when paying in cash;
● in the case of a transaction with a value of €10,000 – paid by transfer of funds pursuant to Article 3(9) of Regulation 2015/847.

Measures shall be applied in case of suspected false identification of the counterparty or suspected money laundering.

What does money laundering involve?

AMLA measures include:

● information gathering and document preparation under the AMLA – this includes client verification;
● storing database, information and documents;
● money laundering and financial terrorism risk assessment;
● disclosure of information regarding suspicious transactions or customers;
● exchange of information between relevant entities.

Legal Frame Law Firm will provide you with advice on drafting rules under the AMLA, employee induction training, challenging administrative offences and penalty notices. In case of need, you can contact an attorney to assist you at the phone number listed on the website or on the question form.

Need a consultation?

Call Now ButtonОбади се