Payment Account
Complex Support for Individual Account Opening
Hiring professionals for support will significantly speed up the process of opening a bank account and help avoid various troublesome problems.
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Recommendations
Documents to prepare by fundraising team regarding the fund and the matters those documents should address
Explanation Because negotiations with potential LPs typically continue until the final closing of a fund, documents are typically revised on an ongoing basis to reflect those negotiations. However, certain key elements describing the offering and its essential features should remain constant. Limited partners (LP) are investors. A limited partner is
Recommendations
Should the GP be responsible for screening investors to prevent money laundering or other illegal practices?
Explanation The definition of what constitutes money laundering and the application of anti-money laundering (AML) legislation can vary from jurisdiction to jurisdiction. However, there are general requirements and common principles relating to AML legislation, which are set out in the Financial Action Task Force (FATF), and these include not only
AML
Complex AML Advisory Services (Subscription)
AlphaUMi provides ongoing advisory services on demand. With our monthly AML/CTF advisory subscription you can access a dedicated AML/CTF specialist who will help you navigate the regulatory requirements and provide you with an appropriate action plan for implementing your AML/CTF Program.
AML
AML/CFT staff training
Anti-Money Laundering is constantly shifting and evolving. New software, changes in the legal and regulatory framework, new money laundering and terrorist financing techniques, and changes in the business as a whole can be extremely difficult to keep up with.
AML
AML Services Outsourcing
The requirements for the authorisation, supervision, organisation and internal control of the conduct of financial institutions in accordance with the newly AML/CFT rules are constantly increasing.
AML
AML Structure Auditing
As the Anti-Money Laundering (AML) and Counter Terrorist Finance (CTF) regulatory environment experiences ever stricter scrutiny, your AML and CTF audit model and governance procedures will become subject to greater audit and regulatory interest.
AML
Development of AML documentation according to FIU regulatory requirements
Development of AML documentation according to FIU regulatory requirements is a process that should be carried out by professionals with a positive background of interaction with the financial inspection and other government agencies.
AML
New Law in Cyprus according to AML
A new law has been passed in Cyprus in line with the 5th Directive of the European Union on AML (the “Law”). The 5th AML Directive (5AMLD) came into effect in early 2020 to mitigate criminal economic activity.
AML
What is Money Laundering
Probably first used during Watergate Scandal in 1973, Money Laundering has negative business, economic, and social consequences. So, let's take a look, what the Money Laundering actually is