Policy Document on Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT and TFS for FIs) (Supplementary[...]

Policy Document on Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT and TFS for FIs) (Supplementary Document No. 1) - Money Services Business Sector

The policy document sets out the minimum requirements and standards that an approved licensed Money Services Business (MSB) must observe in implementing non face-to-face verification process when on-boarding corporate customers. This is to ensure effective and robust Anti-Money Laundering and Counter Financing of Terrorism control measures and systems are in place to safeguard the safety and integrity of money services.

Refer Attachment:

• Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions (AML/CFT and TFS for FIs) (Supplementary Document No. 1) - Money Services Business Sector
• Frequently Asked Questions (FAQs)