Compliance
Navigating the ever-evolving regulatory landscape poses a significant hurdle for businesses. Compliance is in fact emerging as a crucial necessity for any business aiming to proper in its industry, for several compelling reasons:
Legal Adherence:
Businesses must operate within the law to prevent legal issues, fines, and reputation damage.
Risk Management:
Businesses must identify and mitigate potential risks proactively.
Trust and Reputation:
Businesses must build trust among customers, partners, and stakeholders hinges on ethical and compliant operations.
At Valletta Trustees Ltd, we understand the consequences of non-compliance. Our committed team of professionals is well-equipped to provide comprehensive compliance solutions to deal with Regulatory Compliance and Anti-Money Laundering (AML), and Combating Financial Terrorism (CFT) Regulations, including:
- Offering consultancy services to local and international clients introducing businesses in Malta, ensuring alignment with local AML/CFT regulations and legislation;
- Assisting with the identification and verification of beneficial owners in complex corporate structures, including the establishment of the register of beneficial owners;
- Advising on reporting obligations and deadlines related to regulatory submissions, such as the declaration of beneficial owners to authorities;
- Collecting information and documentation related to source of funds and source of wealth;
- Offering screening services, including sanction list reviews and entity research to identify adverse information;
- Assessing whether involved parties might qualify as Politically Exposed Persons (PEPs) under local legislation and providing guidance on their management;
- Conducting a general risk assessment of transactions or proposed business relationships, with advice on mitigating high-risk cases;
- Providing guidance on steps to take when there is a reasonable suspicion of money laundering;
- Assisting clients with AML requirements from both local and foreign banks.
Compliance surpasses a mere checkbox exercise; it necessitates a thorough, industry-specific assessment to ensure alignment with local AML/CFT obligations. For this reason, our team is dedicated to staying updated with regulatory news and developments, ensuring compliance with AML regulations including the European Union’s 5th Anti-Money Laundering Directive, applicable to the local regulatory environment.
