Swen Scholtyssek / »The increasing importance of compliance« / HANSA-Forum 2018
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Anti-Money-Laundering<br />
Why is it important?<br />
— AML/CTF Anti-Money Laundering / Counter Terrorism Financing<br />
— New regulation: 6th Anti Money Laundering Directive<br />
— Customer screening required on payments from 10.000 €<br />
— It is not sufficient to depend on bank-side screenings<br />
— Applicable to companies trading in goods<br />
— Severe penalties and fines<br />
— Reputational damage<br />
— management board is also liable<br />
How can it be ensured?<br />
— Know your customer : Screening necessary<br />
— You must have a Compliance Management System<br />
— Do not underestimate reputation risk<br />
© <strong>2018</strong> KPMG Law Rechtsanwaltsgesellschaft mbH, associated with KPMG AG Wirtschaftsprüfungsgesellschaft, a member firm <strong>of</strong> the KPMG network <strong>of</strong> independent member firms<br />
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The name KPMG and the logo are registered trademarks <strong>of</strong> KPMG International.<br />
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