Updates to our Consolidated AML/CFT Handbook
In line with our continuous efforts to support Industry in combating financial crime, we have updated Section 14 of the Consolidated AML / CFT Handbook.
The updates include additional guidance for high value dealers. This is designed to assist the retail industry with identification, assessment and mitigation of risks associated with money laundering, terrorist financing and proliferation financing, and to support our common efforts in combating financial crime.
The main changes are:
- Additional guidance identifying which type of retail business is recognised as a high value dealer.
- Adding case studies to highlight various scenarios of retail businesses being used by money launderers.
- Aligning the guidance wording in accordance with the law and international standards.
The updated versions of the Handbook:
A new page dedicated to retail business with guidance about financial crime related to high value dealers: