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In an increasingly regulated environment, Know Your Customer (KYC) procedures are becoming commonplace. Once limited to just banks and government agencies, due diligence is now carried out by corporate service providers, iGaming operators, and warranted organisations.

The need for one entity to ascertain that another is really and truly who it says it is has become part of our daily routine. Whether you are opening a bank account, applying for a residence permit or setting up a business in Malta, you will be required to undergo due diligence.

In recent years, there has been a sharp increase in requirements placed upon ‘subject persons’ in Malta under anti money laundering (AML) legislation. These subject persons nowadays include banks, financial services providers, i-gaming companies, but also lawyers, notaries, and other professionals, who are now required to carry out added due diligence on their clients before on boarding them. Most of those clients have their documents in foreign languages so translations are required.

Such a delicate and oftentimes invasive process can be frustrating. Malta-based institutions would require all documents to be presented in either English or Maltese, the country’s official languages. To comply with these requirements, you would need to translate any documents printed in any foreign language.

Done incorrectly, such as by overlooking inaccuracies, can lead to the disqualification of your application. Linguistic misinterpretation is not a risk you should take lightly anywhere, but especially in regard to legally mandated KYC requirements.

The Benefits Of Engaging Professional Translators

Hollywood showcases being “Lost in Translation” as something humorous. When it comes to due diligence, it can be anything but that.

Translating documents destined for due diligence exercises is a critical task that can only be handled by professional linguists. No matter if you are the party carrying out this exercise or the party undergoing a check, ensuring that all the information is correct and accurate is absolutely vital.

This has always been Transcripta’s belief. Our team of professionals are able to translate documents from any language and provide an efficient service with superb precision. We understand the importance of accuracy and confidentiality, which is why we are often called upon to translate documents for governments and public institutions.

Our Reputation Is At Stake With Each Translated Task

The team at Transcripta takes each translating task seriously. We understand that every document can affect an individual or business and their relationship with authorities local and overseas. Properly translated documents can make it possible for bank accounts to be opened, residency permits to be issued, and business deals to go ahead. Inaccuracy may result in the opposite. That’s why we’re accurate in our work.

In addition, we value our customers no matter whether they only use our services once or require translation on an ongoing basis. By properly interpreting context and information, we can assist in speeding up your applications. We are also able to certify our translations to enhance your credibility and foster trust amongst unknown parties.

Do You Need Due Diligence Documents Translated?

We have helped hundreds of local and international entities and individuals with their translation needs. Our efficient and time-sensitive services allow us to offer flexible deliveries whilst maintaining a high quality result.

If you or the company you work for are required to collect more and more data about your clients’ source of funds and proof of good standing for AML compliance purposes, get in touch with one of our professionals today. No matter what KYC documents you need translated, our accurate interpretation and translation services focus on all markets, languages, and cultures.

Speak to us today.