The Commission has today issued an updated Handbook on Countering Financial Crime and Terrorist Financing following consultations on rules and guidance in relation to an independent audit function, business risk assessments, virtual asset service providers and additional information disclosures for licensed trustees and partners.
We have also updated Appendix I of the Handbook which lists jurisdictions identified by external sources as presenting higher risk of money laundering and terrorist financing reflecting the Financial Action Task Force’s updated list of jurisdictions under increased monitoring, which includes Cameroon, Croatia, and Vietnam. Some of the other sources used in the compilation of Appendix I have updated their assessments which have led to the addition of Chile, Curacao, and Macau and removal of Belize, Kiribati, Morocco, and Rwanda.
We are also issuing feedback on the consultations which can be found on the Commission’s Consultation Hub.
The clean and tracked version of the Handbook (including Appendix I) can be accessed via the Handbook page and the Notices, Instructions & Warnings page.
The FATF page on High-Risk and Other Monitored Jurisdictions can be found here.
We have taken the opportunity to update legal references in the Handbook following revisions to the main supervisory laws, and to reflect the change name of the Financial Intelligence Unit and establishment of the Economic and Financial Crime Bureau.
