Regulatory Alerts2020-08-19 | 29674Amendment to the Definition of Financial Institutions Under the Proceeds of Crime Act Chapter 11:27
The Insurance Sector regulator has amended the statutory definition of Financial Institutions under the Proceeds of Crime Act (Chapter 11:27). This update broadens the classification of covered entities to ensure comprehensive anti-money laundering compliance across insurance operations. Affected institutions must align their reporting obligations and internal controls with the revised framework to maintain regulatory standing.
Insurance Sector Amendment to the Definition of Financial Institutions Under the Proceeds of Crime Act Chapter 11:27 Share
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