JMLSG proposes revisions to its AML/CTF Guidance aimed at tightening rules around internal controls, intra-group outsourcing and due diligence for group entities and intermediaries

The proposed updates would require firms to extend their AML/CFT obligations to intra-group and group company outsourcing arrangements, strengthen the role and authority of the MLRO when material risks arise, and apply risk-based supervision and reporting mechanisms in such contexts. They also clarify how customer-due-diligence (CDD) must be applied when dealing with regulated group companies, court-appointed deputies or intermediaries acting on behalf of clients, and add guidance on handling identity/authority verification and ongoing monitoring.