Anti-Money Laundering/Combating the Financing of Terrorism (AML – CFT)
Our Firm has, also, has gained an experience in the professional area of Money laundering and Combating the Financing of Terrorism the financing of terrorism.
These are financial crimes with economic effects.
Money laundering requires an underlying, primary, profit-making crime (such as corruption, drug trafficking, market manipulation, fraud, tax evasion), along with the intent to conceal the proceeds of the crime or to further the criminal enterprise. These activities generate financial flows that involve the diversion of resources away from economically- and socially-productive uses—and these diversions can have negative impacts on the financial sector and external stability of member states. They also have a corrosive, corrupting effect on society and the economic system as a whole.
AML/CFT controls, when effectively implemented, mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.