Even businesses that are not directly regulated under AML legislation often experience indirect effects.

Banks may request detailed information before opening accounts or processing transactions. Professional advisers may seek ownership information before providing services. Lenders may require evidence regarding beneficial ownership and source of funds.

Business owners therefore frequently encounter AML procedures throughout the life cycle of a business, including:

• incorporation.  
• banking arrangements. 
• financing transactions. 
• property acquisitions. 
• mergers and acquisitions. 
• significant investments. 

Providing clear, accurate and timely information can often reduce delays and facilitate smoother transactions.