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Anti-Money Laundering

CasePro anti-money laundering (AML) solutions are focused on mitigating the risks associated with money laundering, terrorism financing and other related illicit activities and aim to ensure overall compliance through the development and management of ongoing compliance programs and processes. In particular, CasePro provides legal advice to its clients on many aspects of AML rules and regulations, such as:

AML policies, programs, procedures

  • Preparation, review and development of AML internal policies, programs, procedures and further instructions on their duly implementation;
  • Legal advice on adherence to relevant national and European regulations and good practices related to AML compliance projects;
  • Legal guidance regarding application of risk-based procedures such as “Know Your Customer” (KYC) and enhanced due diligence of customers and assistance with implementation of particular suitable compliance measures;

AML trainings

  • Organization, guidance and conduction of trainings that reflect the latest regulatory trends and industry best practices (including trainings to management, employees or particular departments of clients);
  • Drafting of a set of documents necessary for certifying the trainings carried out before competent authorities;

AML due diligence

  • Assessment of business related risks in a variety of commercial transactions;
  • Evaluation of the potential for engagement of criminal, administrative and civil liability of clients;
  • Identification of "red flags" and resolving gaps and deficiencies in applied AML compliance practices;
  • Legal guidance on AML legislative and regulatory developments, particularly applicable recommendations and instructions of the State Agency for National Security (SANS) and Financial Action Task Force (on Money Laundering) (FATF);
  • Conduction of AML due diligence to clients’ in order to minimize the risk of non-compliance;

Disclosure of ultimate beneficial owner(s) (UBO(s)

  • Legal advice on disclosure and reporting obligations imposed to legal entities and other legal formations based in Bulgaria;
  • Detailed analysis of corporate structures, including preparation of a charts with percentages and shareholdings;
  • Determination of the (i) particular natural person(s) who should be disclosed as UBO(s) and (ii) legal entities or other legal formations which should be disclosed as such through which control is directly or indirectly exercised over a client;
  • Legal guidance on collection of identification data for the UBO(s) and information for the legal entities or other legal formations through which control is directly or indirectly exercised over a client;
  • Legal assistance with apostillation, legalization and translation of documents;
  • Evaluation whether an appointment of local natural contact person is necessary and advice on the particular steps thereof;
  • Preparation and completion of a set of documents necessary for the duly carrying out of the process for disclosure of required information;
  • Filing of the necessary application along with supporting documentation for disclosure of the required information before the respective register;

Maintenance of Internal rules for control and prevention of money laundering

  • Evaluation whether a client falls within any of the categories of obliged persons under the Measures Against Money Laundering Act;
  • Identification of the specific obligations imposed to the particular category of obliged persons;
  • Preparation and/or revision of internal rules for control and prevention of money laundering;
  • Drafting of a set of required and supporting documentation to the above internal rules;

Legal representation

  • Cooperation and maintaining communication with competent authorities, including during a client’s inspection;
  • Appeal against actions and acts of competent authorities in the AML area, including SANS;
  • Conduction of internal investigations with regard to alleged violations of a client.
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