In accordance with the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act, 2020 (the “Act”) and with the AML/CFT Regulations, 2020 (the “Regulations”):

all the reporting entities specified under the First Schedule of the Act have an obligation to register with the Financial Intelligence Unit (the “FIU”) within 60 days of the coming into force of the Regulations or commencement of business.”

The Circular No.5 of 2020 of the FIU is being issued to notify all the reporting entities that, based on the Regulations, the registration shall be in an electronic manner and each reporting entity must comply with the abovementioned obligation by the 31st of January 2021.

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