|Authored by:||Compliance Commission|
|Date:||March 27, 2014|
The Compliance Commission (the Commission) has revised its Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Examination Forms which were last revised in 2010.
The examination forms were revised to clarify:
- The requirement for a written Risk-based AML/CFT policies and procedures document;
- Examination of financial institutions with a branch or branches;
- What comprise a proper sample of facilities for examination;
- Examination period;
- The requirement for AML/CFT staff training; and
- What is an AML/CFT internal compliance review.
The purpose of the Commission’s examination forms is to assess the level of compliance of financial institutions with AML/CFT laws and guidelines. The forms are intended for the use of financial institutions supervised by the Commission and accountants appointed by the Commission to conduct AML/CFT on-site examinations on its behalf.
Click here to download the revised forms. The forms can also be downloaded from the Commission’s website under the menu heading “How Do I/ Get an On-site or Off-site Examination Form.” The forms are in Adobe Acrobat format and are able to be completed and saved with the use of a computer.
Financial Institutions supervised by the Commission and Accountants are reminded that a Letter of Appointment should be obtained from the Commission prior to the commencement of an AML/CFT On-site Examination.
The Commission can be contacted at the address below:
THE COMPLIANCE COMMISSION
Second Floor, Charlotte House
Shirley & Charlotte Streets
P.O. Box N-3017
Telephone: (242) 397-4198
Telefax: (242) 322-6968