Payment and Financial Transactions

With the heavy regulation of financial transactions, the payment service providers and their customers face increasing requirements as well as penalties or criminal sanctions imposed for a breach of stipulated rules resulting in limited / prevented options to execute the desired transactions (e.g. due to blocked funds).

NIELSEN MEINL helps its clients to understand the regulatory matters and set the clients’ internal processes providing for the compliance with law, clients’ statutory duties, processes and requirements of the banks and other payment service providers, whether domestic or international, namely as regards the payments outside the EU (Russia, China, USA, etc.).

NIELSEN MEINL has extensive know-how and expertise regarding the AML measures gained at regularly attended professional workshops, courses, etc. and through discussions with the market regulators and other related entities. NIELSEN MEINL drafts internal documents for clients, sets processes providing for compliance with the AML requirements and conducts external audits focused on due compliance with the stipulated duties and obligations.

NIELSEN MEINL has assisted several payment service providers in the process of business formation and registration and prepared comprehensive set of documents required for their registration with the Czech National Bank.