JMLSGJoint Money Laundering Steering Group (UK)
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The main risk faced by financial advisers is aiding and abetting those trying to carry out these primary offences, says the JMLSG which spells out the dangers if advice is given recklessly: "Clearly, the risk of being involved in money laundering or terrorist financing will increase when dealing with certain types of customer, such as offshore trusts/companies, politically exposed persons and customers from higher risk or non-FATF countries or jurisdictions," it says.
Archive versions of the JMLSG notes from 1997, Feb 2001, Dec 2001 and 2003 with the full range of functionality that Complinet offers on all its rulebook products including links to all the materials referred to in the notes.
It has been built in line with the Money Laundering Regulations and JMLSG guidance and provides fraud prevention capabilities.
According to the JMLSG Guidance Notes published in January of this year, "It is a criminal offence to make funds or financial services available to targets on the list maintained by the Bank of England.