With the AML Update Service
You can receive updates about the latest and relevant paragraphs for you to consider including in your AML Policy
AML Update Service extract for :
Trust services
Change Date : | Word Count: 203 | Deployment Measure : 9/10
Rationale:
Draft wording making it clear that trust services must not be provided where there’s a connection to Russia, including beneficiaries or those likely to benefit financially. The definition of “connected” is based on residence or incorporation, not nationality alone, and the restriction applies to creating, managing, or arranging trusteeship.One of the most relevant sanctions for our practice is that there is a prohibition on providing any trust related services for the “benefit of a person connected with Russia”.
…
to view full text