Legal and compliance risks

Within the LLB Group, combating money laundering and its predicate offences as well as the financing of terrorist or criminal activities is assigned the highest priority. Monitoring is performed by an IT system. In addition to the systematic monitoring of transactions, employees receive ongoing training on regulatory changes. They are also sensitised to the indications of possible money laundering activities. LLB has a legal department, Group Legal, and three specialised compliance departments:

  • Group Financial Crimes Compliance is responsible for fulfilling legal anti-money laundering requirements.
  • Group Tax Compliance is responsible, inter alia, for implementing a tax compliance strategy as well as AEOI and FATCA (see chapter “Regulatory framework and developments”).
  • Group Regulatory Compliance is focused on compliance with supervisory requirements, inter alia, in the areas of MiFID and cross-border, and monitors employee transactions.