Regulatory Alerts2026-08-24
Added
Anti-Money Laundering & Countering the Financing of Terrorism Handbook (August 2026 – clean version)
The Financial Services Authority provides guidance on implementing a risk-based approach to Anti-Money Laundering, Countering the Financing of Terrorism, and Countering the Financing of Proliferation (AML/CFT/CPF). The document mandates specific procedures for business risk assessments, customer due diligence, and enhanced customer due diligence, including detailed requirements for verifying identity, assessing source of funds and wealth, and managing risks associated with Politically Exposed Persons and Commercially Exposed Persons. It outlines exemptions and simplified measures for certain transactions and entities, such as occasional transactions, agents on behalf of others, and eligible introducers, while establishing protocols for suspicious activity reporting, record keeping, and staff training.