Proposed Amendments to the Guidelines on the Prevention of Money Laundering & Countering the Financing of Terrorism

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This draft describes the rationale for the amendments, which is in more details in Annex A. There are two big changes that the amendment will bring about. Part A clarifies that The Central Bank will be responsible for better monitoring system for credit unions, as they are more exposed to vulnerability to Money Laundering and Terrorist Financing. Part B is focusing on establishing a stronger internal audit system for risk management within the relevant financial institution, and systematically keeping the records of the audit.

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2017
Date of Document: 
Monday, May 22, 2017
Language (This Document): 
English

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