Proceeds of Crime Act (AML/TF) Guidelines

Proceeds of Crime Act (AML/TF) Guidelines
Display:

Several amendment to the principal act to include the "Eastern Caribbean Central Bank” as a regulatory authority for Financial Institutions.

This amendment to the SRO 6 of 2012 contains further revised Administrative penalties (Column 3) (penalty for corporate bodies) ; Customer Due Diligence measures.

Amendment contains several amendments to the Principal Act; Termination of business relationship ; Administrative penalties has been further revised see. SRO 58/2014; Source of funds forms …….

PRINCIPAL ACT

The Guidelines speaks to the establishing of internal controls, Customer Due Diligence, Wire Transfers, Record Keeping, Employee Training, information exchange between public and private sector authorities, the application of counter measures; Suspicious Activity Reports, Forms, Charities and other associations not-for-profit; recognized jurisdictions i.e jurisdictions that the FATF has designated as safe to do business with; offences and administrative penalties for non-compliance and more……..