|
Par Paolo BRIGNARDELLO, Head Product Management and Marketing, Fundsquare
KYC and due diligence procedures remain one of the most costly regulations faced by Luxembourg’s fund industry and the overall financial sector businesses. This is despite it being a decade and a half since global law-makers put in place rules to fight money laundering and terrorism financing.
A challenge for all
Banks, investment funds, family offices, insurance companies, , holding companies, service providers, and the rest all face a daily battle to comply with KYC/AML-CTF duties and assure that clients are not using the financial system for illegal activities. Making a mistake or having laxly procedures could be corporate suicide....
|