AML & CFT Legal Rules (Other Jurisdictions)
British Virgin Islands
- Proceeds of Criminal Conduct Act, 1st Jan 2020 [read]
- Anti-Money Laundering (Amendment) Regulations, 2023 [read]
- Anti-Money Laundering & Terrorist Financing Code of Practice, 1st Jan 2020 [read]
Singapore
- Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 [read]
- Financial Services And Markets Act 2022 [read]
- MAS Notice 626: Prevention of Money Laundering and Countering the Financing of Terrorism – Banks [read]
- MAS Notice PSN01: Prevention of Money Laundering and Countering the Financing of Terrorism – Specified Payment Services [read]
- Terrorism (Suppression of Financing) Act 2002 [read]
United Kingdom
- Proceeds of Crime Act 2002 [read]
- Financial Services and Markets Act 2000 [read]
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regs. 2017 [read] [Section 2, European Communities Act 1972]
- Terrorism Act 2000 [read]
Requirement for Keeping Record of Significant Controllers (Beneficial Owners)
The FATF requires member jurisdictions to take measures to prevent the misuse of legal persons for ML/TF, by ensuring that adequate and accurate information on the beneficial owners and control of legal persons can be obtained or accessed in a timely fashion by competent authorities including law enforcement agencies. The FATF defines a beneficial owner as a natural person who ultimately has a controlling ownership interest in a company, or is exercising control of the company through other means.
Rules in Individual Jurisdictions
- British Virgin Islands - Beneficial Ownership Secure Search System Act, 2017 (read)
- British Virgin Islands - Beneficial Ownership Secure Search System (Amendment) Act, 2017 (the BOSS amendment)
- Hong Kong - 2018 Companies Amendment Ordinance [read], [elaborations]
- Hong Kong - Administrative guideline for Companies to keep significant controllers registers [read]
- Singapore - Companies (Register of Controllers and Nominee Directors) Regulations 2017 [read]
- United Kingdom - Small Business, Enterprise and Employment Act 2015 [read]
- United Kingdom - Register of People with Significant Control - Administrative guideline [read]
- United States - Corporate Transparency Act and CFR [read]
