FIN.

FGC updated for MLR changes

The Financial Crime Guide has been updated to reflect necessary changes consequent on implementation of MLD5. In particular, it now covers

  • new high-risk factor considerations;
  • changed e-money thresholds for CDD;
  • updated requirements on beneficial ownership;
  • the requirement to report discrepancies to Companies House; and
  • the duty on credit institutions and the providers of safe custody services to respond to requests from a law enforcement authority or the Gambling Commission for information via the central automated mechanism – introduced from 10 September.

 

Emma Radmore