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 :
Financial Sanctions
Change Date : | Word Count: 399 | Deployment Measure : 8/10
Rationale:
The Government’s financial sanctions regime is continually changing. It is important that firms now update their policies to take into account the risks concerning financial sanctions. The sanctions regime is not the same as the Anti-Money Laundering regime and it is important for staff to know the difference. This paragraph guides them to the differences and location of the Sanctions Policy.AML, counter-terrorist financing (CTF) and counter-proliferation financing systems are not enough to ensure compliance with the sanctions regime. A 25% beneficial ownership test applies with the AML regime whereas the ownership and control test for sanctions is very wide and
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