ONDCP - Public Notice

The “Office of National Drug and Money Laundering Control Policy” wishes to advise the General Public that new “Money Laundering & Financing of Terrorism Guidelines” were issued by the Supervisory Authority on 12 June 2017.  They clarify and highlight the following obligations of relevant businesses, that is, business activities listed in the First Schedule to the Money Laundering (Prevention) Act:

  • The requirement to employ a Risk Based Approach to customer due diligence
  • The need to identify the natural persons in control of customers who are legal persons or arrangements
  • The restated and elaborated requirements for handling wire transfers, and
  • The broader role and functions of compliance officers

For more in depth information please reference the following document :

 Money Laundering and Financing of Terrorism Guidelines.