Regulatory Alerts2022-09-19
Management of AML/CFT Risks
The Supervisor of Banks issued Circular No. C-06-2723 to defer the commencement date of the AML/CFT risk management amendment to January 15, 2023. This extension grants banking corporations and merchant acquirers additional time to complete the complex technological preparations required by Appendix B.2 of Proper Conduct of Banking Business Directive No. 411. The decision follows consultation with the Advisory Committee on Banking Business Affairs and approval by the Governor to ensure optimal implementation.
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