AMLCO Newsletter : Combating money laundering and terrorist financing (‘AML/CT’)

As part of its supervisory mandate in respect of AML/CFT, the FSMA regularly informs you of the applicable legal and regulatory obligations for subjected entities, and of the publications that can help you as AMLCO keep up to date with the legislation, good practices and trends in the area of AML/CFT.

In this issue of the newsletter, the FSMA examines in depth the concept of 'politically exposed persons (PEPs), in order to define more precisely who those persons are, and to remind you of your specific duty of diligence in respect of those clients and some of their close associates.

The FSMA considers it useful to direct you to the publications of the CFI-CTIF on national risk analyses for 'money laundering', 'terrorist financing' and 'financing of the proliferation of weapons of mass destruction' (ML/TF/PF). Under the heading 'Miscellaneous', the FSMA considers, among other things, changes in the grey list maintained by the FATF and in the AML questionnaire under the new European legislation.