With the entry into force of the new Law of Ukraine “On Prevention and Counteraction of Legalization (Laundering) of Proceeds of Crime, Financing Terrorism and Financing the Proliferation of Weapons of Mass Destruction”, many financial obligations are imposed on the entities of primary financial monitoring, including risk – oriented approach in the manner defined by the internal documents on financial monitoring.

At present, building a truly effective system for preventing and counteracting the legalization (laundering) of proceeds of crime is an urgent need for any participant of the financial market of Ukraine.

Experienced S&P attorneys, using specialized industry knowledge and years of experience, build an effective and efficient AML system that fully meets both regulatory and business requirements.

How can we help?

AML policy

In order to comply with regulatory requirements, any financial market participant must ensure that the AML policy is up-to-date and compliant

KYC procedures

Outdated KYC procedures or lack of necessary interaction with structural units may nullify efforts to build an effective AML system

Risk-oriented approach

The risk-oriented approach in AML should take into account all risk criteria and be proportionate to the nature and scope of the activity

Internal control

Internal financial monitoring documents should include procedures sufficient to ensure effective risk management

Business culture

Compliant with corporate culture and clearly defined responsibilities and roles of units involved in the AML system

Independent assessment

External AML Performance Measurement as opposed to regulatory performance measurement, which usually results in significant fines