Anti-Money Laundering Policy
Direct or indirect assistance in the legitimization of proceeds accrued from illegal activities and terrorism financing is strictly prohibited by THE PREVENTION AND SUPPRESSION OF MONEY LAUNDERING AND TERRORIST FINANCING LAW OF 2007 (henceforth the “Law”) and THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING directive (henceforth the “Directive”) issued by the Council of the Cyprus Bar Association to supplement the aforesaid Law by imposing an obligation on legal practitioners including professionals practicing in the financial sector to implement anti-money laundering and anti-terrorism financing measures and policies.
Our team of legal practitioners is committed to ensuring compliance with the above Law and Directive and to this end we have in force a set of reporting procedures, policies and control systems aimed at preventing and countering money laundering and terrorism financing.
When establishing a business relationship, as part of our know-your-client (KYC) and due diligence inquiries, we routinely require our clients to provide, among other things, the following documents:
From individuals:
• Copy of passport (must be valid)
• Residential address (by means of a recent utility bill or a bank statement)
• Signature specimen
• Full contact details
• Reference letter(s) from a lawyer, an accountant or a financial institution
From companies:
• Constitutional documents
• Details of shareholders and directors
• Details of individuals exercising ultimate effective control of a company
Further to the above, we reserve the right to require additional information and documentation such as an Economic Profile and a Curriculum Vitae.
PLEASE NOTE: unless originals are presented, all copies of requested documents must be apostilled (if sent from abroad) and duly notarized / certified by a notary public or the Embassy or the Consulate or the High Commission or a lawyer or a reputable auditor / accountant.
For further information regarding our AML policies, please direct your questions to Haris Constantinou at info@constantinoulegal.com.
