Regulatory Alerts2024-12-16
Guidelines for the Identification, Verification and Reporting of Suspicious Transactions Related to Money Laundering, Financing of Terrorism and Proliferation of Weapons of Mass Destruction (ML/TF/PF) for Financial Institutions
The Central Bank of Nigeria mandates financial institutions to file Suspicious Transaction Reports via the GoAML and RapidAML platforms. These guidelines require institutions to identify, verify, and report transactions linked to money laundering, terrorism financing, and proliferation financing. Compliance includes adhering to Nigerian sanctions updates and monitoring the UN Consolidated List.
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