The international community has been developing strategies for the prevention of money laundering. Accordingly, BLP has established the practice area of Anti-money Laundering Compliance in order to advise local and international clients on matters related to the prevention, management, and control of the risks of corruption, bribery, money laundering and financing of terrorism.
Because money laundering and terrorist financing practices are a latent risk, laws and regulations have been strengthened and regulatory efforts have been focused on preventing and combating such practices. Financial institutions, in particular, must make a greater effort to implement the necessary controls to reduce their risks. Failure to comply with legal requirements could lead to extremely costly fines and penalties, deterioration of the relationship with customers and other financial institutions, imprisonment, and damage to reputation.
Our Anti-money Laundering Compliance practice provides legal services in the following areas: