Since Malta has become a financial and iGaming hub in the past years, it has become even more essential for businesses to comply with local and global regulations in relation to AML (Anti-Money Laundering) and CFT (Combatting of the Financing of Terrorism). In Malta, the Prevention of Money Laundering Act (Cap. 373) prevents businesses from being used to launder the proceeds of financial crime or even being associated with corrupt practices by understanding and addressing the present challenges.
Successful operations of businesses can be achieved by conducting investigative due diligence processes, by having anti-bribery and corruption policies in places, do constant monitoring, trace assets, training and development, internal auditing and analytical reporting, amongst others. These services together with compliance screening in order to obtain a richer financial crime insight, have been recently launched by Fairwinds Management Limited by offering Anti-Money Laundering advisory services to businesses.
Why are these services important?
All services form part of either regulatory compliance or investigations and analysis, which together provide the complete list of services that are necessary to abide to the full regulations.
Risk assessments are the key features that detect whether a business is at risk of being exposed to money laundering activities. This is determined by analysing factors such as the type of business activity, the countries in which this takes place, and the type of clients.
Full ongoing risk monitoring is highly important for the identification of new risks, while providing solutions on how to better the performance by prioritizing risks and making informed decisions.
Through training and development, your business compliance team will become more empowered with a more accurate profile of risks that can be encountered throughout the daily operations.
For more information about our recently launched AML advisory services, you are encouraged to visit our website and get directly in touch with one of our Directors, Ms. Joceline Caruana on firstname.lastname@example.org for one-to-one assistance.