KYC and AML compliance: DBR instructions apply to authorised persons and their agents, franchisers remain responsible. Instructions on KYC, AML and CFT for money-changing activities issued by the Department of Banking Regulation shall apply to all Authorised Persons mutatis mutandis; the Foreign Exchange Department will not issue separate instructions. The consolidated guidance also applies mutatis mutandis to agents and franchisees, with franchisers bearing sole responsibility for ensuring compliance; Authorised Persons must notify their constituents. The directions are issued under the Foreign Exchange Management Act and the Prevention of Money Laundering Act and do not affect other legal permissions.