The Joint Money Laundering Steering Group (JMLSG) has published for comment, proposed guidance for firms offering consumer credit. Responsibility for supervising such firms’ compliance with their anti-money laundering obligations moves to the FCA on 1 April 2014. The guidance is contained in proposed amendments to the current edition of the JMLSG Money Laundering Guidance. The […]

The Joint Money Laundering Steering Group (JMLSG) has received confirmation  of HM Treasury’s approval of certain amendments made to its anti-money laundering (AML) and counter-terrorist financing (CTF) guidance. The approval was confirmed in a letter to the JMLSG and relates to changes made to parts I and II of the JMLSG’s 2011 guidance. http://sites.herbertsmithfreehills.vuturevx.com/38/5938/landing-pages/united-kingdom.asp?sid=6f726542-002e-4ba6-bcc9-47551be8cd5a

The Joint Money Laundering Steering Group (JMLSG) has today published its proposed amendments to its Money Laundering Guidance as a result of its three-month long industry consultation. The proposed amendments include the following changes: • increased reference to international expectations; • references to the revised Financial Action Task Force recommendations relating to a risk-based approach; and • changes […]