Contents
- What is banking compliance?
- When is a compliance procedure necessary?
- Is it possible to go through the procedure yourself?
- Examples of Bank Compliance from Laduchi Consult
Compliance behavior is a solid foundation for any business. Compliance means that a company complies with laws and regulations, both internal and external, to avoid legal violations, liability and reputational damage.
Not surprisingly, the compliance procedure today is of particular importance for companies in the leading sectors of the economy, and, of course, this procedure is of particular importance in the banking sector.
Bank compliance is the various types of procedures and tools used for internal control of new and existing customers. They are checked for compliance with legal requirements regarding terrorist financing, money laundering and corruption.
You need to go through a compliance procedure if you:
- Want to open or unblock an account in a foreign bank
- Carry out purchase or sale of business or real estate abroad
- You plan to attract bank financing
- You want to legalize your funds abroad
Bank Compliance exercises control over:
- reliability;
- completeness;
- timeliness;
- objectivity of providing information.
Despite the fact that all compliance control systems are built on the common principles of international organizations, each country and each particular financial regulator has its own procedures and requirements for assessing compliance risks.
The uniqueness of these rules and procedures often leads to long waits and sometimes to denials of service. In addition, it takes a significant amount of time to prepare all the documents required for compliance review. Unfortunately, banks do not disclose specific deadlines for reviewing requests and making final decisions.
Can I go through the compliance procedure on my own?
On your own, without the help of professionals, going through the compliance procedure is difficult, but possible.
You will need time, knowledge, active participation, a willingness to provide the necessary information promptly, and attention to detail. However, even with a meticulous approach, the potential for errors is very high. This can make the compliance process very difficult and time-consuming.
That is why if you want to get a positive result in the shortest possible time you should turn to professionals in this field.
Using many years of experience in the banking sector, Laduchi Consult provides services for banking compliance procedures.
«We have quality expertise in this matter, and our specialists have all the necessary European licenses and are up to date with current trends. This allows us to prepare the necessary documents in the shortest possible time and receive positive decisions for our clients.»
Anastasia Bolgarova, Financier Laduchi Consult
Stories of our clients about compliance with Laduchi Consult
The owners of the business, a Belgian family, the owners of the Boa-Bao restaurants in Portugal decided to open a location in Spain. For this purpose it was necessary to attract financing of more than 500 000 EUR.
The specialists of Laduchi Consult carried out the work on the preparation of documents. An existing business in Portugal was presented as a collateral and passed the compliance procedure. As the result the customer has got necessary financing to start the project.
Read in full
As part of this project, going through the bank compliance procedure was only the first step in resolving the situation.
Laduchi Consult was approached by a client wishing to buy the Carrera y Carrera brand from the previous owner. At the time of the sale, the company was on the verge of bankruptcy: huge debts all over the world, conflicts with employees. Buying out the brand without taking responsibility for the company itself and its debts, and at the same time, to get all the rights to trade the brand worldwide is not an easy task. At the same time, the negative credit history did not play in favor of the brand.
The specialists of Laduchi Consult managed to coordinate with the bank all the stages of obtaining money from abroad as an investment.
As a result, after a year and a half of hard work we helped the client get what makes the company known all over the world - the brand, product rights, rights of representation in 53 countries, including America. As well as trademarks and digital tools.
Read in full
The owners of the business, a Belgian family, the owners of the Boa-Bao restaurants in Portugal decided to open a location in Spain. For this purpose it was necessary to attract financing of more than 500 000 EUR.
The specialists of Laduchi Consult carried out the work on the preparation of documents. An existing business in Portugal was presented as a collateral and passed the compliance procedure. As the result the customer has got necessary financing to start the project.
Read in full
As part of this project, going through the bank compliance procedure was only the first step in resolving the situation.
Laduchi Consult was approached by a client wishing to buy the Carrera y Carrera brand from the previous owner. At the time of the sale, the company was on the verge of bankruptcy: huge debts all over the world, conflicts with employees. Buying out the brand without taking responsibility for the company itself and its debts, and at the same time, to get all the rights to trade the brand worldwide is not an easy task. At the same time, the negative credit history did not play in favor of the brand.
The specialists of Laduchi Consult managed to coordinate with the bank all the stages of obtaining money from abroad as an investment.
As a result, after a year and a half of hard work we helped the client get what makes the company known all over the world - the brand, product rights, rights of representation in 53 countries, including America. As well as trademarks and digital tools.
Read in full
Please note that all materials contained on this site have been prepared for informational purposes only. This data does not constitute or replace professional financial, legal or tax advice. The information is general in nature and does not take into account your personal circumstances. Always seek professional advice from officially licensed professionals: financial advisors, accountants and lawyers.