NOTICE-Sector Specific Guidance Notes AML/ATF Money Service Business (2017-12-19)

Summary

This is a notice from the Bermuda Monetary Authority announcing a consultation on new Sector-Specific Guidance Notes for AML/ATF applicable to Money Service Business. The sector-specific notes are meant to supplement, not replace, the Authority's general AML/ATF Guidance Notes, applying them to the particular risk profile of money service business activities.

• Purpose: Reviews and updates AML/ATF guidance to align with FATF's revised 40 recommendations (2012) as applied to money service business.
• Consultation: Invites comments from stakeholders on the draft Sector-Specific AML/ATF Guidance Notes for Money Service Business.
• How to respond: Comments should be emailed to policy@bma.bm with the subject line including the words AML/ATF Money Service Business.

This notice itself is informational and consultative rather than a binding rule; it does not impose new compliance obligations beyond inviting feedback within the stated consultation window.

Applies to

Money service business, AML/ATF regulated financial institutions

Deadlines

• 19th January 2018: End of the 30 day consultation period for comments on the Sector-Specific AML/ATF Guidance Notes for Money Service Business