The Joint Money Laundering Steering Group (JMLSG) board has published for consultation the revised text of amendments proposed to its Money Laundering Guidance for the Financial Sector.

This follows its recent review which focused on making the guidance clearer, particularly in relation to risk assessment and monitoring the effectiveness of systems and controls.

Although the JMLSG board determined that it would be inappropriate to anticipate amendments that would be needed upon implementation of the Fourth European Money Laundering Directive, it did include some data from the new Financial Action Task Force documentation concerning risk-based approach.

The deadline for comments is 15 September 2014.

http://www.jmlsg.org.uk/download/9757

http://www.jmlsg.org.uk/download/9758

consultation webpage are available. http://bit.ly/X456hP