Instruction No. 02/2018 for Financial Services Businesses and Prescribed Businesses
3rd August 2018The Commission is today issuing Instruction Number 02/2018 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 01/2018 issued on 16 March 2018.
Changes to Instruction No. 02/2018 include the removal of Iraq and Vanuatu and the addition of Pakistan. Further details in respect of these changes can be found within Part B of the Instructions.
The Commission has also removed Haiti from Part C of the Notices in light of its removal from the Caribbean FATF (“CFATF”) follow-up process and pending its forthcoming 4th Round Mutual Evaluation. It is noted that Haiti has committed to continuing work with CFATF towards strengthening its AML/CFT framework.
The Commission would encourage businesses to continue to exercise caution when considering new and existing business relationships and occasional transactions with connections to Iraq, Vanuatu and Haiti.
Copies of Instruction No. 02/2018 can be accessed on the Financial Crime section of the Commission’s website and via the below links: