Anti-money laundering training news 17/03/2009 HM Treasury passes warning note from FATF to UK Regulated sector

HM Treasury has issued advice this month regarding the international financial system that affect Regulated firms ongoing anti-money laundering training programmes.

The notice passes a warning of failings in certain countries issued by the Financial Action Task Force (FATF) on to UK businesses, alongside a statement of full support and a reminder that the Money Laundering Regulations 2007 demand a systematic approach to monitor attempts to disguise the proceeds of crime.

The states that have caused FATF concern are Iran, Uzbekistan, Turkmenistan, Pakistan, So Tom and Prncipe; Cyprus, on the other hand, is no longer highlighted as a jurisdiction of concern, according to the Treasury advice note.

That note also passes on a MONEYVAL warning regarding Azerbaijan of relevance to financial institutions bound by the Money Laundering Regulations 2007.

Money laundering reporting officers seeking a copy of the full HM Treasury and FATF notes for anti-money laundering training purposes may find these at the Treasury website.

News « Note from Treasury

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