Depending on the nature of the services provided by the Firm, our lawyers shall be subject to the Act dated 18 September 2017 pertaining to the prevention of money laundering and terrorist financing, which also imposes deontological obligations. These regulations aim to prevent money laundering and terrorist financing and, to this end, impose a number of mandatory obligations upon lawyers.
Duty of identification, verification and vigilance
Our lawyers shall be required to identify their clients and to request and retain certain documents attesting this identity for a period of ten years. To this end the Firm may perform investigations using external electronic databases. The Client acknowledges that any associated costs shall be at his expense. Lawyers shall also have a duty of vigilance that may result in additional information being required for the duration of the Client relationship.
These information and vigilance obligations shall apply not only with respect to our clients (natural and legal persons), but also with respect to their representatives, i.e. company directors, and their ultimate beneficiaries ("UBO”).
We rely on the Client’s cooperation
The aforementioned procedures require the Client’s cooperation and also require clients operating as a legal entity or other legal structure to notify the Firm who the UBO is. The Client agrees to notify the Firm of any change that may affect his or her status and to provide the information requested by the Firm at first request.
If the Client refuses to provide the information upon request, the Firm shall not be able to enter into the business relationship. If preliminary interventions have already taken place any further interventions shall have to be terminated.
Reporting of money laundering suspicions
If, in the course of performing the activities stipulated by the regulations, lawyers identify facts that they know or suspect to be related to money laundering or terrorist financing, they must report this immediately to their President of the Bar, except when their activities are aimed at determining the legal position of their Client or at defending or representing their Client in (connection with) a lawsuit. The President of the Bar shall decide whether or not to forward the information to the CTIF/CFI - the Financial Information Processing Unit. Neither the Firm nor its lawyers shall be liable pursuant to any reports submitted in good faith.
What do we do with your data?
We guarantee complete discretion concerning any data you submit to us before and during our business relationship. The Money Laundering Prevention Act does not interfere with our professional secrecy and we fully comply with relevant privacy regulations, which can also be consulted in line with our privacy statement. We share data with third parties to the extent required for the cautious handling of your dossier (bailiffs, notaries, accountants, intervening lawyers, etc.).
We shall only disclose identifying data that you have provided us with if required by money laundering prevention regulations.
We trust that you understand the procedures we must follow and assume that you will cooperate with them. Rest assured that these procedures shall in no way affect our professionalism and commitment to you.
Should you require further clarification, please feel free to contact us at any time at meldpunt@cygnusadvocaten.be.