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Rules and Regulations

This section will list down rules and regulations pertaining to anti money laundering related crimes.

The Central Bank of Myanmar (CBM) has published guidelines for financial institutions on managing the risks of money laundering and terrorist financing. Guidance on customer due diligence for banks, finance companies and money changers will also be announced soon, said May Toe Win, director at the bank’s financial institutions regulation...
Congress recently made major changes to Brazil’s anti-money laundering legislation in response to international recommendations. As of July 10, 2012, Law No. 12.683/2012 amends the existing legislation, incorporating the following main changes: Key highlights: Some of the key highlights of the new law is listed below: a) Predicate offenses broadened b) Persons obligated to report...
The Anti-Money Laundering Council (AMLC) has released the implementing rules and regulations (IRR) of the newly enacted law criminalizing terrorist financing activities. The IRR for Republic Act (RA) No. 10168 or “The Terrorist Financing Prevention and Suppression Act of 2012” takes effect 15 days after its publication in a national...
HM Revenue & Customs (HMRC) has written some new guidance to go in the Anti money laundering guide for Money Service Businesses (MSBs) that was published in July 2010. HMRC will write to all registered MSBs at the end of June 2012 to give them a summary of the new...
Salient features of the Amendment Bill 1. Amendments and insertions in the definition : Certain new definitions have been proposed to be incorporated in section 2 of the Act, provisions relating to which have been made in the Bill. They are namely- „beneficial owner‟, „client, dealer‟, „precious metal‟, „precious stone‟,...
The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (“AMLO”) will come into operation on 1 April 2012. Under the AMLO, a person who wishes to operate a remittance and / or money changing service is required to apply for a licence from the Commissioner of Customs & Excise...