Update of legislation against money laundering and financial terrorism on the island

Guidance documents will be published shortly

Legislative changes are being made to the anti-money laundering and financial terrorism framework to bring the island into line with globally recognized standards.

The Financial Services Authority, in collaboration with the Ministry of Home Affairs, is implementing the revisions, aimed at achieving consistency in the island’s AFM and CFT legislation.

This move will ensure greater alignment with the definitions and terminology of the Financial Action Task Force, which is leading the global action to combat money laundering, terrorist financing and proliferation financing.

Guidance documents will soon be published on the FSA website to provide additional support and clarity to businesses.