Updates to the Anti-Money Laundering and Combatting the Financing of Terrorism Handbook 2020
Article Published on April 6, 2021
The Financial Services Commission (FSC) has brought the following important updates to the Anti-Money Laundering and Combatting of
Terrorism (AML/CFT) Handbook 2020 further to its first AML/CFT supervisory cycle 2020-2021:
• A new chapter on Independent Audit has been added, the aim of which is to assist financial institutions in carrying out independent
audits by providing key guiding points
• The Risk Based Approach chapter catered for additional provisions to assist in implementing proper business risk assessment.
The above criteria are in accordance with the AML/CFT regime currently in place and require that financial institutions abide by them.
The updated AML/CFT Handbook can be accessed here.
Read the full communique by the FSC here.
