Politically exposed persons, who are treated as high-risk customers under anti-money laundering and counter-terrorism financing law, may continue to pose a high risk even after they cease holding a public position. The anti-money laundering and counter-terrorism financing regulator Austrac has issued a draft guidance note spelling out its definition of a politically exposed person, with […]

JFSC draft rules for Enhanced measures that might be applied in order to address the risk that is presented by specified customers The following shows Extracts from the NEW Section 7 of the JFSC draft AML/CFT Handbook – It should be noted that there will be an opportunity to make submissions on these proposed measures […]