In the past weeks, due to emerging news of money laundering activities, we all have been unconsciously more aware of the implications of such illegal activities. Thanks to this, now everyone can understand better why it is very important to have Anti-Money Laundering (AML) procedures in place – to help stop financial crime.

Although AML compliance might seem like it is a check-the-box exercise as businesses have to be compliant with a a set of regulations imposed by law, this ongoing procedure is highly important. This safeguards the institution’s reputation and reduces any business risks such as financial crime while improving business prospects on the long term. Ultimately, it reinforces reliability and transparency.

Illegally obtained funds can ruin the most reputable company. This is why regulators and Corporate Services Providers such as Fairwinds Management Limited provide guidance to businesses to become compliant with global regulations by understanding and assessing their respective AML challenges.

Regulatory compliance offered by Fairwinds Management Limited include risk assessments, formulating anti-bribery and corruption policies, ongoing monitoring and support of existing client database, and internal auditing.

Thanks to such services, entities can prevent any money laundering attempts from happening. Since alike activities keep evolving especially with the rapid advancement in the online gaming sector, this process is not just a one-time thing. To remain valid and compliant, any entity should keep up to date with laws, standards and regulations that are updated from time to time.

Ultimately, businesses want to do business with companies that have a strong reputation, offer reliability and are transparent. Fairwinds Management Limited has a well-trained team focused on AML who can assist clients to become compliant with global regulations.

This also gives peace of mind and trust to prospects and clients when incorporating a company or outsourcing their bookkeeping to Fairwinds Management Limited.

If you are interested to learn more about this and ensure that your company is and will be free of any financial crimes while conducting business efficiently, our team is ready to help you.

For further information, you can get in touch with one of our directors, Ms Joceline Caruana M.Acc, MIA, Cert.Tax, CPA on jcaruana@fairwindsmanagement.net.