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  • Aml/cft Regulations Consultation Document ... - Ministry Of Justice - Justice Govt

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Implementation of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 Regulations CONSULTATION DOCUMENT JULY 2012 Table of Contents Information Section One: Introduction 4 Glossary.

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34 Reliance on agents Subject to any conditions that may be prescribed by regulations, a reporting entity may authorise a person to be its agent and rely on that agent to conduct the customer due diligence procedures and obtain any information required for customer due diligence under this Act or regulations.

Bank Secrecy Act (BSA) is the common name for a series of laws and regulations enacted in the United States to combat money laundering and the financing of terrorism.

establishing and maintaining an AML/CTF program—to help identify, mitigate and manage the money laundering and terrorism financing risks a business faces. customer due diligence—identifying and verifying the customer's identity, and ongoing monitoring of transactions.

At the institutional level, AML/CFT compliance involves four main activi- ties: internal controls, customer due diligence, surveillance and record keep- ing, and reporting suspicious activities.

1.1 AML-CFT system. 1.2 Competent authorities. 1.3 Investigation and confiscation. 1.4 Financial institutions. 1.5 Non-financial institutions. 2 Preventive measures. 2.1 Know your customer/Customer due diligence (KYC/CDD) 2.2 Record-keeping requirements.

Under section 59(2) of the AML/CFT Act, a reporting entity must ensure that its AML/CFT programme is audited every two years, or at any other time at the request of your AML/CFT supervisor.

31 Ongoing customer due diligence and account monitoring This section applies to a business relationship between a reporting entity and a customer.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232