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Amendments to the Anti-Money Laundering Guidance Notes 5 February 2007

The Financial Supervision Commission wishes to bring to your attention amendments to the Anti-Money Laundering Guidance Notes.

Following consultation with the Association of Licensed Banks, Section 4.04 on Wire Transfer Transactions has been rewritten to comply with the Financial Action Task Force (“FATF”) Special Recommendation VII, the EU Regulation 1781/2006 and the impending Isle of Man European Communities (Wire Transfers Regulation) (Application) Order 2007.

The guidance outlines payer information required to accompany wire transfers such as name, address (or permitted substitutions) and account number. The guidance also outlines derogations from requiring complete payer information where payments are made within the United Kingdom Payment area (defined as the UK, Isle of Man, Guernsey and Jersey).

In addition, amendments have been made to Appendix D of the AMLGN removing references to HM Treasury’s formal notice against Antigua and Barbuda as this notice has been rescinded.

The revised Anti-Money Laundering Guidance Notes can be downloaded from the Handbooks Section of the Commission’s website.

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