Updates to the Anti-Money Laundering and Countering the Financing of Terrorism Handbook (‘AML/CFT Handbook’)

The Authority wishes to draw your attention to some amendments to the Anti-Money Laundering and Countering the Financing of Terrorism Handbook (“AML/CFT Handbook”).

 

Following the release of the updated AML/CFT Handbook earlier this month, concerns regarding section 3.3.1 (“Lower risk”) were brought to the Authority’s attention by the ACSP and a number of regulated entities.

 

Following discussions, additional wording has been added to this section to clarify that it applies only when the concessions regarding verification of identity, as detailed at sections 4.6.1, 4.7.1 and 4.7.2 of the Handbook, are utilised.

 

A tracked changes version of the AML/CFT Handbook can be found here.  A “clean” amended AML/CFT Handbook can be found here .

 

If you have any enquiries please contact the AML Unit using the following email address: [email protected]