Of Relevance to:
All regulated firms
The Joint Money Laundering Steering Group (“JMLSG”) is consulting on changes to Part I of the Guidance – the current version was last amended in November 2014. The proposed revisions reflect the draft Money Laundering and Transfer of Funds (Information on the Payer) Regulations 2017 published on 15 March 2017 (see the “Money Laundering: Politically Exposed Persons” article in this Regulatory Roundup).
Although there are changes throughout the Guidance, the JMLSG advises that there are ‘relatively extensive changes’ to Chapter 5 (‘Customer Due Diligence’).
The JMLSG invites comments on the proposed changes by 28 April 2017.
Access to both the consultative version and to a marked up copy (split into four segments) can be accessed via the link provided.