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Diligex promotes Compliance as a benefit

In the wake of all the talk around FIAU implementing MONEYVAL Recommendations, Malta-based due diligence specialists Diligex, insist that subject persons should be more concerned on implementing their own compliance obligations for the benefit they will achieve through it rather than fear of hefty penalties

Malta-based compliance solutions provider Diligex has taken a proactive approach and has already conducted 40 training sessions this year alone to educate and train all subject persons on their AML/CFT obligations in terms of law. As stricter financial regulation enforcement looms on the horizon, Diligex further promises to guide all its clients in achieving complete peace of mind and automated resource-releasing solutions which focus entirely on maximizing efficiencies in Anti-Money Laundering (AML) compliance.

In a recent report, Moneyval has called upon Malta’s Financial Intelligence Analysis Unit (FIAU) to enhance its analytical processes, while also acknowledging the FIAU’s positive willingness to collaborate with AML/CFT Compliance Service Providers such as Diligex in order to combat the threats of money laundering and terrorist funding.

To this end, Diligex has reiterated its commitment to helping its clients achieve fuller AML/ CFT compliance, further bolstered by the submission of the crucial REQ Caspar System earlier this year, which has served as a strategic step for both the FIAU to better evaluate the national risk matrix and to each subject person to fully understand its risks in conducting business.

Apart from its standard array of services, Diligex is now also offering ‘HealthChecks’ to its clients. Through this procedure, clients are given a clear snapshot of their current compliance status, and are guided on the best way forward from that point onwards.

Speaking about the initiative, Diligex CEO Dr Kevin Plumpton stressed how subject persons have become far more aware of their obligations and the risks implied. “When we succeed to convince all clients on the efficiencies that can be achieved through implementing compliance measures via digital automated technology, that is when the business community will reap greater benefits in compliance than non-compliance.”

Diligex offers specialized services to support subject persons, including financial services providers, banks, credit institutions, gaming companies, investment firms, insurance and pension schemes, PSPs, CSPs, notaries, real estate entities and others. The company aims to ensure that its clients never fall foul of any criminal charges or fines, or suffer irreversible reputational damage. Diligex invites all subject persons to reach out to its AML100 arm [email protected] with any requests or to book a free AML/CFT HealthCheck.