At the office of Dr. Werner & Partner we make an effort to offer our clients transparent and legally sound solutions, for example for company formations in Malta. In order to stay updated with laws and regulations, we regularly hold training sessions; just like yesterday when we attended a training session about prevention of money laundering and funding of terrorism. The training session was held my Ms Stefanie Mallmann, and you can find a brief overview of the contents in this article.
Since we operate a legal office in Malta it is important for us to have in depth knowledge about the laws surrounding money laundering and prevention methods of such activities. This subject is very important nowadays, as some companies are trying to evade paying taxes, or they are trying to conceal the sources of funds. The training will help us to recognise these activities as early as possible, so that we can report them accordingly. Even the slightest suspicion of money laundering activities will have to be reported to the authorities.
Part of the training was the process for identification and verification of individual personal documentation, in order to be able to spot irregularities quickly. It was also covered what needed to be done in case there is a suspicion, and who it needs to be reported to.
The prevention of money laundering and funding of terrorism is very important to us, because we do not want to risk being part of these activities, as we could become be an accessory to a crime. We do our best to adhere to our duties of preventing illegal activities.
In order to give our clients the best possible counsel, we will also have to know the company’s plans. With knowing this information, we can on the one hand exclude illegal activities, such as money laundering or tax evasion, and on the other side we can work on the best solution for the company, as the Maltese company model is not necessarily the best structure for every company. Naturally, all provided information is kept strictly confidential.
All our team members are staying updated with regular training. If you are interested in the complete presentation about Prevention of Money Laundering & Funding of Terrorism, you can download it from our website for your convenience.
