• Terrorist Watch Lists

    Terrorist Watch Lists   ISIL (Da’esh) & Al-Qaida 1267 DPRK 1718 Iran Nuclear Issue & Sanctions 2231 UNSC Targeted Sanctions 1988(2011) UNSC Focal Points for Delisting ISIL (Da'esh) and Al-Qaida Sanctions List Ombudsman Application for Delisting    UN Consolidated Designation List: Terrorist Watch Lists
  • Customer Due Diligence Guidelines

    This guidance document is intended to provide institutions with necessary guidance in respect of what actions are to be taken when establishing customer relationships. Customer Due Diligence Guidelines
  • Politically Exposed Person (PEP) Guidance

    A Politically Exposed Person (PEP) is defined as an individual who is or has been entrusted with prominent public function and their family members and close associates. The categories of PEPs that stem from this definition are Foreign PEPs, Domestic PEPs, International Organisation PEPs, their family members and close associates. It is a well established fact that politically exposed persons (PEPs) are classified as a type of high-risk client that usually require enhanced due diligence (EDD). However, based on further guidance from the Financial Action Task Force (FATF) in their discussion of Recommendations 12 and 22, it has been clarified that the different categories of PEPs are to be treated differently in terms of the level of CDD required for them and their categorisation as a PEP should be reviewed accordingly depending on the change in their position and circumstances. Politically Exposed Person (PEP) Guidance
  • Advisory for Financial Institutions and NRSPs on COVID-19

  • Advisory: COVID-19 Related Scams

      ADVISORY: COVID-19 Related Scams REFRAIN FROM: Providing personal, banking or financial information via the phone, email, social media or text. Purchasing medical or protective equipment online from disreputable or questionable sources. Downloading suspicious attachments or links. UNLESS: You verify the legitimacy of the request or transaction by directly contacting or researching the relevant governmental office, health office, charitable or official organization. You seek verification from guidelines issued by: The government regarding the disbursement of stimulus payments or COVID-19 contact tracing procedures. Financial Institutions as it pertains to online banking verification procedures. Advisory: COVID-19 Related Scams
  • Anti-Money Laundering Information for Jewelers

    Identifying suspicious transactions for Jewelers Customer’s purchase of jewels of high value does not correspond with what is expected from him/her (upon the identification of his profession or the nature of his/her business). Regular purchase of high value commodities or large quantities of a specific commodity in a way that does not match the usual transactions carried out by the customer or the usual pattern of the business for his/her income. Attempts to recover the amount of recent purchases without a satisfactory explanation or when the customer tries to sell what he/she recently bought at a price that is much less than the purchasing price. Customer attempts to sell high value jewels at a price much lower than their actual or market value. Customer’s willingness to pay any price to obtain expensive jewels without any attempt to reduce or negotiate the price. Delivers jewels or precious metals purchased with illicit funds to be repurposed and asserts full ownership of the product in question, but requests payment be made to another person or entity. Anti-Money Laundering Information for Jewelers
  • Anti-Money Laundering Information for the Legal Sector

    How can money be laundered in the Legal Sector? In carrying out their duties, lawyers are often required to hold clients’ funds, manage said funds, serve as a conduit for the sale and purchase of large properties, manage companies and trusts, and carry out executive duties. The level of involvement paired with the frequency of large monetary transactions, the shifting or protection of assets, and verification of information, makes lawyers prime targets for ML/TF transactions or behaviours.   Identifying suspicious transactions for Lawyers Criminals may: Appoint a lawyer in financial or commercial transactions and request the concealment of their name in any of these transactions. Resort to lawyers to create companies, particularly international business companies, from outside the country (offshore) in a way that shows that the objective of creating the company is to conceal the illicit source of the funds. Resort to lawyers to invest in the real estate market, but the purchase or sale prices are not commensurate with the real estate value. Request, upon hiring a lawyer to incorporate a company, to transfer/deposit the incorporation fees or the capital to/in the bank account of the lawyer through multiple accounts that he has no relation to without a reasonable justification. Request that the lawyer manages investment portfolios, in countries allowing such activity, and give instructions to conduct transactions that have no clear economic reason. Use the sources of funding for requested transactions, from large financial transactions that cannot be justified by any known business or corporate purpose. Request payments be made to third parties without clear reason or a valid corresponding transaction. Anti-Money Laundering Information for the Legal Sector