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Consultation on revisions to the AML/CFT handbooks


The JFSC are asking Industry for feedback on proposed changes to the AML / CFT handbooks.

a. The revisions are required in order to implement the 2012 FATF Recommendations.

Are recommending several minor technical amendments to the handbooks specifically in relation to:-

a. business risk assessments

  • Make available to JFSC the firms AML BRA

b. customer due diligence,

  • Tweaking safe harbours and evidence collecting

c. resilience,

  • Obligation to ID without delay – down to 2 working days
  • Expand the scope of risk assessment to include country risk

d. equivalent countries and territories.

  • Remove the current list and provide guidance and links
  • And want to hear from Industry about our suggestion to merge the existing four handbooks into one consolidated version.

Hamish Armstrong, the JFSC Chief Adviser, Financial Crime, has summarised the key points of the consultation paper in this short clip:

Consultation on proposals to revise the AML/CFT Handbooks No 3 2020 - -

The consultation is open until 31 July.

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