JMLSG publishes final revisions to Part I of its AML/CFT Guidance, updating sections on data protection, MLRO responsibilities, and monitoring ML controls, with revisions submitted to HMT for approval

Revisions 6 to the JMLSG guidance refine and expand the UK’s industry-standard anti-money-laundering and counter-terrorist-financing framework by clarifying requirements on risk assessment, customer due diligence, ongoing monitoring and enhanced scrutiny of higher-risk relationships. The updates also incorporate recent regulatory developments and typologies, offering tailored guidance for sectors such as legal professionals, trust and company service providers, and non-profit organisations to improve consistency and effectiveness in detecting and mitigating financial crime risks…