Lexco, a compliance advisory firm focusing primarily on anti-money laundering, recently launched a new service aimed at aiding people with their anti-money laundering compliance obligations.

The service, which is available to accountants, auditors, company service providers, trustees, fiduciaries, notaries, real estate agents and others, combines AML automated software with the additional benefit of the support of experienced AML compliance advisers.

The advisers assist help out by providing expertise in developing and implementing AML compliance systems as required by local legislation. This reduces the burden of manual processes and allows businesses to become up to 60 per cent more efficient with their AML obligations.

The service is particularly beneficial since it can flag customers who are subject to financial sanctions and it can also handle customer due diligence and risk assessment obligations.

“With the latest AML compliance regulations and changes taking place both at a local and international level, businesses, firms and professionals are spending more time trying to keep up with their compliance obligations as opposed to focusing on their own core business. The automated software and advisory services have been designed to reduce the regulatory pressure businesses and professionals face by creating automated compliance systems,” said Lexco founder Malcolm Mallia.  “We understand the importance of giving our clients the peace of mind that we are there to support them in all their AML obligations, while they focus on their business,” he added.

The AML software and advisory services are fully secure and can be integrated with other internal systems being used by professional entities. The compliance team’s expertise provides a unique experience with customised systems to fit business requirements on a case-by-case basis.

www.lexco.com.mt