AML standards/CFT) Standards – Money changing activities

Financial Action Task Force (FATF) has updated its Statement on the subject and document ‘Improving Global AML/CFT Compliance: on-going process’ on October 19, 2012.

Authorised Persons are accordingly advised to consider the information contained in the enclosed statement.

This, however, does not preclude Authorised Persons from legitimate transactions with these countries and jurisdictions.

These guidelines are also applicable mutatis mutandis to all agents/ franchisees of Authorised Persons and it will be the sole responsibility of the franchisers to ensure that their agents / franchisees also adhere to these guidelines.

To view the full notification, please follow the link

 

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