Regulatory Alerts2000-01-01
Financial Institutions (Anti-Money Laundering) Guidelines 2000
The Central Bank of Lesotho issued the Financial Institutions (Anti-Money Laundering) Guidelines 2000 to mandate that all licensed financial institutions establish and maintain comprehensive anti-money laundering programmes. These guidelines require strict customer identification, ten-year record retention, and the prompt reporting of large cash and suspicious transactions to law enforcement authorities. Financial institutions must designate compliance officers, restrict anonymous accounts, train staff, and face potential penalties or remedial measures from the Central Bank for flagrant non-compliance.
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