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 :
Chinese underground banking and funds from China
Change Date : | Word Count: 1,582 | Deployment Measure : 7/10
Rationale:
It is important that firms now update their policies to take into account the risks concerning Chinese funds and underground banking. Lawyers must satisfy themselves that they have complied with their legal/regulatory obligations under the MLRsYou may come across conveyancing matters where the client’s money comes from abroad. In some situations, this funding might have entered the legitimate economy through informal value transfer systems (IVTS) that do not use the conventional banking system and/or
…
to view full text