Regulatory Alerts2026-08-10
Added
Draft Financial and Corporate Service Providers (Anti-Money Laundering and Countering the Financing of Terrorism) (Amendment) Rules, 2026
This draft document amends the Financial and Corporate Service Providers (Anti-Money Laundering and Countering the Financing of Terrorism) Rules, 2020 to apply to all regulated persons under the Financial and Corporate Service Providers Act, 2020. It introduces a framework for countering the financing of proliferation, replaces references to money laundering and terrorist financing with 'identified risks', and establishes new rules for simplified and enhanced due diligence, including specific high-risk indicators and verification measures. The amendments also mandate the immediate freezing of funds for designated persons or entities under targeted financial sanctions and update definitions for politically exposed persons and internal control obligations.