What is AML
compliance?
AML Compliance is not just a regulatory mandate but a safeguard for your business. It’s the law that requires institutions to vet their clients and monitor transactions to prevent money laundering.
At Regpit, we offer a suite of tailored solutions to make compliance simpler for you. From KYC as a Service to specialized E-Learning, Whistleblowing System, and Risk Management, we make sure you’re always on the right side of the law.
Essentials to consider
Explore our articles and find out more about compliance obligations and how Regpit can help you manage them
Avoid non-compliance risks and consequences.
Avoid the Pitfalls of Non-Compliance
AML compliance might be intricate, but the risks of neglecting it are crystal clear: legal repercussions, reputational hazards, operational hiccups, and a decline in business opportunities—possibly compounded by severe financial losses. Our comprehensive solutions like KYC as-a-Service, Risk Management, and E-Learning safeguard your business’s integrity, reputation, and future growth.
Hefty Fines
Section 56 outlines various breaches that could result in fines. While many infractions might set you back €100,000, graver offenses could cost up to €5 million or even 10% of last year’s revenue.
Public Exposure
Irrefutable fine decisions aren’t private; they’re showcased on regulatory authorities’ websites, inviting public scrutiny.
Personal Liabilities
Fines can extend to the management team if preventive measures are lacking or poorly monitored, making leaders personally accountable.
Legal Repercussions
Beyond fines, there’s a real risk of criminal charges, ranging from up to 2 years for negligent money laundering to as high as 5 years if concrete evidence exists.
