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Staying In Line, All Of The Time: Forget Compliance Nightmares With This Company In Malta 

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Running a business these days can be very complicated, especially if you operate in a sector that requires you to remain compliant with different local and international legal requirements.

Malta’s recent grey-listing by the Financial Action Task Force (FATF) has added a further layer of complexity to businesses’ operations. 

The fact that Malta will be listed as a high-risk jurisdiction will definitely mean increased red tape especially when it comes to dealing with banks and other regulatory agencies.

How could greylisting impact me?

First and foremost, greylisting could potentially bring about a significant slowdown in both local and foreign investment. Both because of the uncertainty generated as well as reputational problems arising from greylisting.

Beyond that, higher insurances costs could be levied on serval sectors. such as the import and export sector. The cost of professional insurance is also likely to increase.

Besides insurances costs, operational costs are also likely to increase as a result of greater regulatory requirements, especially if you’re a professional that’s active in the financial services sector.

In fact, financial services and small to medium enterprises (SME) are likely to bear the brunt of the increase in regulatory requirements. 

This is especially true of firms and businesses that lack the extensive legal and compliance teams that larger more established companies can rely on. Banking and affecting transactions to overseas accounts will also become more complicated, and subject to many new requirements as a result. 

And even if a company is big enough to have such a department, some things are best left to people with specialist knowledge and tools.   

This is where Creditinfo Malta comes in.

Creditinfo Malta is part of the international Creditinfo group, and offers a range of ad-hoc solutions and compliance products to suit your business needs. 

They offer a host of services ranging from credit scores and reports to debt collection, due diligence reports and know your client searches, among others.

Anything you need to get a good understanding of who it is that you’re dealing with, be they a client, business partner or even competitor. 

So what can Creditinfo Malta do for you?

Helping you know who you’re dealing with 

One of Creditinfo Malta’s major strengths is its local online database which provides its clients with live up-to-date information that enables them to assess local clients and suppliers.

This can be extremely useful in instances where you’re required to perform a due diligence assessment on a potential client.

It is also handy for you to check out a potential business partner to make sure they’re trustworthy. 

The database can be accessed by subscription or API and can be tailored to a company’s specific needs.

It is a simple and easy-to-use risk management tool that lets you search for information on data subjects – both companies and individuals – so that you always know who you’re dealing with when doing business. 

Creditinfo can also help you carry out due diligence checks outside the country through Creditinfo Malta’s partnership with Dun & Bradstreet – a leading provider of global business data information. 

Providing your company with customised data solutions 

Data is fast becoming one of the most important tools for any business. Creditinfo can also help you with anything related to the processing of data. Every company uses some form of database, which, more often than not, becomes quite disorganised with time.  

They can also offer the best possible help organising your data or creating custom uses for it.

Debt collection 

Having to chase a client or business associate for unpaid debt is something all businesses try to avoid, but it does happen sometimes.

Creditinfo provides a number of debt collection tools and services that can make this headache a lot easier.

Pressure Letters, Statement Stickers, Bills of Exchange and Bounced Cheque Display are all tools Creditinfo can offer to get debtors.

What makes these tools particularly effective is the fact that a failure to comply could lead to companies being marked as having bad debt on Creditinfo’s widely used database.

Creditinfo also offers a professional debt collection service that can help you recover funds deemed unrecoverable, through applying pressure in a professional manner or legal action, if necessary.

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Yannick joined Lovin Malta in March 2021 having started out in journalism in 2016. He is passionate about politics and the way our society is governed, and anything to do with numbers and graphs. He likes dogs more than he does people.

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