The requirements as to the financial services companies' ability to comply with anti-money laundering legislation have been on the rise and further requirements are on the way. It means that companies are facing challenges when handling the expenses and the resources relating to anti-money laundering and complying with anti-money laundering legislation.
In February 2016, the European Commission published an action plan to strengthen the fight against money laundering and terror financing. The action plan presents a number of targeted amendments to the fourth Anti-Money Laundering Directive and it moves forward the implementation of the Directive from June 2017 to the end of 2016.
The measure is introduced following a period when both the Danish and the other Nordic regulatory authorities have strongly criticised the compliance by financial services companies with general anti-money laundering legislation and they have also imposed fines to an unprecedented extent.
Plesner has in-depth knowledge of the regulations and practices in respect of anti-money laundering and terror financing measures and provides advice on anti-money laundering measures and anti-money laundering legislation.
Our anti-money laundering expertise is gained from working for the Danish prosecution service and the Danish Public Prosecutor for Serious Economic and International Crime as well as having in-depth knowledge of the financial sector and the Danish FSA.