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AML, KYC and CFT Best Practices

Published: Monday February 6th, 2012

As part of the Central Bank’s efforts to ensure that matters relating to anti-money laundering (AML), know-your customer (KYC) and countering the financing of terrorism (CFT) are being appropriately addressed by licensees, we request that going forward, all firms, as part of their internal audit plans, implement a comprehensive KYC/AML/CFT review program to assess the effectiveness of their ongoing compliance with our Guidelines for Licensees on the Prevention of Money Laundering and Countering the Financing of Terrorism and the relevant legislation.