Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme
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Anti Money Laundering standards: apply FATF counter measures to cross border remittances and ensure due diligence and reporting. Authorised persons under the Money Transfer Service Scheme must apply counter measures for identified ML/TF risks in specified jurisdictions, notify constituents and customers of FATF guidance, obtain Principal Officer acknowledgement, and implement due diligence, recordkeeping and reporting; non compliance attracts applicable penal consequences under the governing statutes and rules.
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: apply FATF counter measures to cross border remittances and ensure due diligence and reporting.
Authorised persons under the Money Transfer Service Scheme must apply counter measures for identified ML/TF risks in specified jurisdictions, notify constituents and customers of FATF guidance, obtain Principal Officer acknowledgement, and implement due diligence, recordkeeping and reporting; non compliance attracts applicable penal consequences under the governing statutes and rules.
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