Section 4. This website uses cookies to analyse our traffic. To find out more read our cookie policy. Skip to main content. Section 4 - Identification measures - finding out identity and obtaining evidence - 31 May Section 4 - Identification measures - finding out identity and obtaining evidence track change version - 31 May Section 5 - Identification measures - reliance on obliged persons - 31 May Section 5 - Identification measures - reliance on obliged persons track change version - 31 May Section 6 - Ongoing monitoring - 12 February Section 6 - Ongoing monitoring track change version - 12 February Section 8 - Reporting money laundering and terrorist financing activity - 12 February Section 8 - Reporting money laundering and terrorist financing activity track change version - 12 February It is recommended that you speak to your named supervisor.
The MLO only refers to e. Any reference to "money laundering" in the text of the Handbook also includes terrorist financing. Will it therefore be removed from the Handbook? There remains one example of SCDD in section 7. Who is the "Customer" of a discretionary trust where the settlor is deceased, there is no Protector, and no beneficiaries are high risk and have received no benefit? Section For an express trust, for example, a trust company business would be meetings its obligations to identify its customers when it identifies the persons listed e.
As this question does not relate to the theme of the webinar, and appears more a general trust company business query, we suggest contacting your named supervisor in writing, to outline the issue, including full details relating to the issue and frequency observed in practice. Learn more and register. This website uses cookies to analyse our traffic. In the meantime, all regulated financial services businesses should be aware of the changes described above, although we do not envisage that the changes will have a substantive practical impact on the compliance procedures of relevant persons.
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In addition to those considerations already listed, a relevant person should now also have regard for the extent to which a country or territory is achieving FATF's Immediate Outcomes that are directly relevant to the application of available concessions, namely whether Immediate Outcomes 3 Supervision and 4 Preventive Measures are assessed at a high or substantial level of effectiveness.
Whilst the JFSC has provided a list of helpful hyperlinks to further information in Section 1 of the AML Handbook, it is made clear that the relevant person will be expected to undertake independent research and exercise its own judgement in each case.
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