Regulatory Alerts2024-01-01
Financial Lease (Amendment) Regulations, 2024
Dr. Retšelisitsoe Matlanyane, Lesotho’s Minister of Finance and Development Planning, issued these regulations to amend the Money Laundering and Proceeds of Crime Regulations 2019. The amendments mandate a risk-based approach to customer due diligence for existing clients, clarify suspicious transaction reporting timelines, and enhance wire transfer and third-party monitoring requirements. Additionally, the rules introduce mandatory verification for beneficial life insurance policies, expand agent oversight for money and value transfer services, and update record-keeping obligations for non-profit organizations.
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