- WHO?
Our clients
Organizations within the financial services industry are expected to know who they are doing business with by identifying clients and taking risk management measures. In doing so, they must avoid entering into (business) relationships with natural persons and companies that could damage their own integrity and reputation. Screening and checking relationships by using a sound customer lifecycle management program and various KYC-AML policy frameworks, sanction lists and registers is essential. This responsibility is legally covered and defined in the Dutch Financial Supervision Act (Wft), the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) and the Sanctions Act (Sw). If financial institutions fail to comply, they may risk high fines or even license revocation. It is therefore very important that institutions and organizations are prepared and set up for this. Financial service providers have an important gatekeeping function in fighting these scams and safeguarding their own integrity. But what does it require for the organization to keep up with these developments?
McMorla & Co. offers you support in how to act accordingly in the form of guidance and advice with offering you substantive solutions to your problems. We support the following corporate and financial sectors that must comply with the Wwft, Wft and EU legislation falling under the licensing system of the public regulators. These are;
- Banking and financial services firms
- Insurance companies
- Financial consultancy firms
- Legal consultancy firms
- Accountants
- Investment companies and funds
- Mediators and mediators
- Real estate firms
- Notaries
- Pension funds
- Fintech firms
- Cryptocurrency firms
- Gambling firms
