News

JFSC consults on revisions to the AML/CFT Handbooks

24/07/2020

On 28 May 2020, the JFSC issued a consultation paper asking for feedback on proposed changes to the AML / CFT handbooks. The deadline for comments is 31 July 2020. The revisions are required in order to implement the 2012 FATF Recommendations, specifically in relation to:

  1. business risk assessments;
  2. customer due diligence;
  3. reliance;
  4. equivalent countries and territories; and
  5. merging the AML/CFT Handbooks.