Regulatory Alerts2007-11-12 | TED-FEM-FPC-GEN-01-137-07Added · Updated
Compliance with Know Your Customer (KYC) Requirements and Banks Weekly Money Laundering Reports to the NFIU Using Xml Schema Template
This circular emphasizes compliance with Know Your Customer (KYC) requirements in Nigeria by reminding all banks and financial institutions to gather complete customer identification information. They must use the XML Schema Template for weekly money laundering reports to be submitted to the Nigerian Financial Intelligence Unit (NFIU). Non-compliance within two weeks of this circular will result in sanctions.
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