Regulatory Alerts2017-08-24 | 29491Revised Draft AML/CFT Guideline for the Banking Sector
The banking regulator has issued a revised draft guideline establishing updated anti-money laundering and countering the financing of terrorism requirements for financial institutions. The document mandates enhanced compliance frameworks, including strengthened customer due diligence, ongoing transaction monitoring, and precise reporting obligations tailored to banking operations. Banks must align their internal policies with these revised standards upon finalization to maintain regulatory compliance and mitigate financial crime risks.
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