Anti Money Laundering Standards: money changing entities must apply FATF jurisdictional guidance and ensure agent compliance. Money changing Authorised Persons must consider FATF guidance on jurisdictions with AML/CFT deficiencies and apply enhanced risk assessment and transaction scrutiny; these obligations extend to agents and franchisees for whom franchisers are responsible, and Principal Officers must acknowledge the circular, with directions issued under foreign exchange and anti money laundering statutes without prejudice to other legal permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Anti Money Laundering Standards: money changing entities must apply FATF jurisdictional guidance and ensure agent compliance.
Money changing Authorised Persons must consider FATF guidance on jurisdictions with AML/CFT deficiencies and apply enhanced risk assessment and transaction scrutiny; these obligations extend to agents and franchisees for whom franchisers are responsible, and Principal Officers must acknowledge the circular, with directions issued under foreign exchange and anti money laundering statutes without prejudice to other legal permissions.
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