Any organisation that, through lack of appropriate risk management, acts for or allows criminals to access a financial system, is putting its reputation, profits and possibly its future on the line.

The European Union’s 3rd Money Laundering Directive (EU 3MLD) implements the Financial Action Task Force
(FATF) 40+9 recommendations on money laundering and terrorist financing.

Any organisation undertaking a financial transaction must implement risk based due diligence processes to identify whether any customer is a known terrorist, criminal, or Politically Exposed Person (PEP) or is at risk of participating in money laundering.

 
Compliance is not optional; any failings could have serious consequences, including fines and imprisonment, over and above the considerable damage to your company’s reputation.