Businesses of all sizes are facing a growing strain and demand on compliance functions. Compliance has a multitude of facets, but in particular businesses are needing to comply with requirements relating to financial crime & money laundering, corporate governance, sanctions checking and the prevention of bribery, corruption and fraud in organisations.
Anti Money Laundering and Financial Crime
Many businesses now hold increasing obligations in the interests of anti-money laundering and the curtailing of financial crime and terrorist financing. The sequence of Anti Money Laundering Directives and their transposition by way of Gibraltar’s Proceeds of Crime Act 2015, as well as related regulations in respect of curtailing financial crime and terrorist funding in the form of the Terrorism Act 2018 and the Sanctions Act 2019 imposes requirements to introduce adequate policies, controls, procedures and personnel with appointed functions.
TSN’s practitioners hold particular expertise in assisting businesses of varying industries and sizes assess their obligations under relevant legislation; drafting, reviewing and implementing procedures and controls; auditing such procedures and controls; and providing particular compliance functions or assisting in the sourcing of persons of responsibility.
TSN’s experienced practitioners understand the reality of the growing obligations and costs of compliance. We continue to assist a number of businesses achieve their compliance goals and our assistance has ranged from helping small Gibraltar businesses introduce holistic compliance frameworks to reviewing Gibraltar aspects of compliance in relation to regulated international financial services providers.