Asset protection & Compliance
Banking, structuring and compliance
Nowadays, all bank, brokerage and investment firm clients are subject to scrutiny, both by compliance departments of their financial institutions and the local financial regulators.
Inquiries into sources of wealth are becoming more and more thorough, covering not only client’s current assets and transactions, but going far into the past and demanding that clients provide records and information from years, and even decades, prior.
“Many Russian speaking clients are unaware that European regulations require banks to treat them as a high-risk by default. This blanket approach might not seem fair, and quite often it means that the burden of proof is on the clients to evidence that their affairs are legitimate. Whether it’s an investment in an app to track pregnancy or the sale of your family home, if the source of wealth originates from Russia/CIS, it is almost certain that you will have extra questions to answer.”
Trust Director /
“The reality is that changes in regulation of private wealth, which are taking place around the globe, rapidly diminish the value of private capital from “unexplained” sources. International financial legislation and regulation of private capital now dictate that all sources of wealth must be explained - even from many decades ago. Any client that does not do so exposes themselves to significant financial and reputational risk. They will also be declined access to banking in Europe.
Think about it beforehand and don’t allow your hard-earned money to become a burden.”
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Founder of Monopoly Advisers. Senior Strategic Consultant /
We have significant experience in helping clients from Russia and CIS to take a proactive stance with their banks to avoid issues arising on their transactions, and to defend their reputations where necessary.
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