KNOW YOUR CLIENT’S BUSINESS POLICY

The process of identifying our clients also includes detailed knowledge of our clients’ business. This is necessary primarily to ensure compliance with the high ethical standards of the Law Firm, observed by the lawyers and employees of Panev & Partners Law Firm. In addition, we apply the Internal Rules of Panev & Partners Law Firm for the control and prevention of money laundering and terrorist financing.

In compliance with these high standards of our Law Firm, before providing any services, we examine the business of our clients to make sure that in their activities they comply with all legal requirements and do not apply practices incompatible with our understanding of good morals.

For the above reasons, we do not provide any services to persons whose business is related to gambling, pornography, certain categories of investment and financial services. We also do not provide services to anonymous clients and clients who have refused to be subject to due diligence, regardless of whether identification, due diligence, or proof of origin of funds is mandatory.

In cases where this is mandatory under the MAMLA and/or MAFTA, as well as in cases where this is not mandatory, but we find it necessary, we carry out additional checks related to the identification of our clients and investigate the origin of their funds.