Amendments to JMLSG Guidance

Certain amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations 2017 come into effect on 10th January 2019 (S.I.2018/1337) which will result in minor changes to the Guidance in Part I paragraphs 5.3.17 and 5.3.67. Regulation 29(6) (restrictions on anonymous accounts and passbooks) adds the restriction of anonymous safe-deposit boxes, and Regulation 29(7A) has been inserted to direct that customer due diligence measures be applied to all anonymous safe-deposit boxes in existence on 10th January 2019, and in any event before they are used.

The revisions to the Guidance can be found here.

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