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 :
Cryptocurrency
Change Date : 21/01/2025 | Word Count: 103 | Deployment Measure : 8/10
Rationale:
The objective of the proposed wording is to outline the firm's policies prohibition of cash and cryptocurrency payments to mitigate money laundering risks. It specifies that all cryptocurrency funds must be converted to sterling through a regulated exchange, and the firm does not operate cryptocurrency wallets.We recognise that both cash and electronic currencies can provide anonymity and potentially enable money laundering. As a result, our policy strictly prohibits accepting cash payments from clients. In exceptional
…
this text has expired. To see latest paragraphs