AML COMPLIANCE

AML COMPLIANCE: NAVIGATING ANTI-MONEY LAUNDERING REGULATIONS

The UK’s anti-money laundering (AML) framework is one of the most stringent in the world, posing significant challenges for businesses to stay compliant. At Gherson, our team of experienced financial crime and regulatory lawyers provides expert guidance to help organisations meet their AML obligations, mitigate risks and avoid penalties.

Whether you need help implementing AML policies, responding to regulatory investigations or conducting due diligence, our bespoke solutions are tailored to your unique requirements.

WHY IS AML COMPLIANCE IMPORTANT?

Money laundering is a significant concern for regulators worldwide, and regulated businesses are required to implement effective measures to detect and prevent it. Non-compliance with AML regulations can lead to:

• Severe fines and penalties for organisations and individuals.
• Reputational damage and loss of stakeholder trust.
• Criminal prosecution for breaches of AML laws.

Gherson’s team provides proactive advice and representation to ensure your organisation meets its obligations and remains protected from legal and financial risks.

OUR AML COMPLIANCE SERVICES

We assist businesses across all regulated sectors in navigating AML regulations, offering services that include:

1. Policy Development and Implementation
   • Drafting and reviewing AML policies and procedures.
   • Implementing systems to detect and prevent money laundering activities.
2. Risk Assessments
   • Identifying vulnerabilities within your organisation.
   • Developing tailored strategies to mitigate AML risks.
3. Training and Awareness
   • Providing bespoke AML training for employees and compliance teams.
   • Raising awareness of regulatory obligations across your organisation.
4. Due Diligence and Reporting
   • Conducting due diligence checks on clients, suppliers and business partners.
   • Advising on when and how to file Suspicious Activity Reports (SARs) with the NCA.
5. Internal Investigations
   • Investigating potential AML breaches within your organisation.
   • Advising on remedial actions to strengthen compliance and any required communications with relevant regulators.
6. Regulatory Defence
   • Representing clients during investigations or enforcement actions by regulatory authorities, such as the Financial Conduct Authority (FCA) or HMRC.

AML COMPLIANCE FOR CRYPTOCURRENCY AND DIGITAL ASSETS

The rise of cryptocurrency and blockchain technology presents new challenges for AML compliance. At Gherson, we have specialist expertise in advising businesses on:

• Drafting AML policies specific to cryptoassets and NFTs.
• Ensuring compliance with the evolving regulatory landscape for digital assets.
• Conducting risk assessments and due diligence for crypto-related transactions.

WHY CHOOSE GHERSON?

• Expertise in AML Compliance: Our team combines legal and regulatory knowledge with practical experience to deliver effective solutions.
• Tailored Advice: We develop compliance strategies aligned with your business operations and risk profile.
• Proven Track Record: We have successfully advised clients across industries on AML compliance.
• Specialised Crypto Knowledge: Our expertise in cryptocurrency-related AML compliance ensures you stay ahead in this rapidly changing sector.

RECENT CASES:

• Advised a global company on AML obligations for transactions involving cryptocurrency and NFTs.
• Provided advice and assistance to numerous companies and individuals in connection with establishing whether their company activities and/or cryptoasset transactions crossed into the regulatory sphere, and identified the necessary authorisation and/or licensing, if required.
• Advised on matters regarding anti-money laundering compliance procedures, including in relation to cryptoassets and NFTs.
• Advised in relation to litigation in a multi-jurisdictional cryptocurrency-related dispute.
• Assisted and advised MusicArt (the only planet-friendly NFT marketplace) in complying with relevant anti-money laundering (AML) law and regulations. Gherson advises Non-Fungible Token marketplace company MusicArt.
• Defended a client facing allegations of AML breaches during an HMRC investigation, resulting in a favourable resolution.

CONTACT US

If your organisation requires assistance with AML compliance, contact Gherson today. Our team of experts will provide tailored advice and robust solutions to meet your legal and regulatory needs.