As part of the Financial Services Commission initiatives to assist the financial institutions in applying national measures to combat money laundering and terrorist financing, the Commission has developed its Anti-Money Laundering and Countering the Financing of Terrorism Handbook (the ‘AML/CFT Handbook’). The aim of the Handbook is to assist the financial institutions under the purview of the Commission in complying with the requirements of the FIAMLA and the FIAML Regulations 2018. It consolidates the Commission’s guidance on anti-money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction.
Further to the Risk-Based Supervision cycle 2020-21, the Handbook has been updated to provide further guidance on Business Risk Assessment and Independent Audit.
The AML/CFT Handbook was further amended in September 2022 to include a new provision on Certification and to align with the legislative changes of FIAMLA and FIAML Regulations 2018.
The AML/CFT Handbook can be downloaded here.