JFSC highlights 120 findings in its 2022 Financial Crime Examination Report
On 28 July 2023, the JFSC reported its Financial Crime Examinations Unit FCEU] carried out 20 financial crime examinations in 2022
The FCEU identified 120 findings, the vast majority of which related to non-compliance or partial non-compliance with statutory and regulatory requirements concerning:
- Corporate governance
- Customer due diligence measures
- Reporting suspicions of money laundering or the financing of terrorism
- Screening, awareness and training of employees.
The JFCS 2022 Feedback paper details our findings, links relevant guidance and gives examples of best practices.
The JFSC SAYS
- Boards and Senior Management of all supervised persons should review their arrangements against the themes in the feedback paper and take appropriate and prompt action to remedy deficiencies identified.
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