AML/CFT Handbook – Update

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”).

Section 4.9 of the AML/CFT Handbook has been amended to state that a relevant person may consider obtaining sight of the letter of wishes, or other relevant documents of the trust, in order to assist in confirming the beneficiaries / potential beneficiaries to the trust. The change being made in this section of the AML/CFT Handbook is in response to recommended MONEYVAL action. See paragraph 383 of the Mutual Evaluation Report for further information.

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

Also, Appendix D(a) and Appendix D(b) have been amended to reflect the FATF Statement issued on 29 June 2018 and the FATF’s statement entitled ‘Improving Global AML/CFT Compliance: update on-going process’ also issued on 29 June 2018.  There is a tracked changes version of Appendix D(a) and a tracked changes version of Appendix D(b) available. 

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