Jamaica
4 regulators · 8 laws & regulations · 2 obligations · 2 enforcement actions
| Obligation | Timing | Regulator | Arises from | Source | Detail |
|---|---|---|---|---|---|
| Banking | |||||
| AML compliance programme and nominated officer | Ongoing | BOJ | Proceeds of Crime (Money Laundering Prevention) Regulations, 2007 (with amendments to 2013) | official | |
Reg. 5(1)-(2) requires programmes, policies, procedures and controls, including staff integrity checks, ongoing training and independent audit. Reg. 5(3) requires the business to nominate an officer who performs management functions. Reg. 6(1) covers internal control and communication procedures and staff awareness. |
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| Customer due diligence (KYC/CDD) | At onboarding + ongoing (review at least every seven years and when in doubt) | BOJ | Proceeds of Crime (Money Laundering Prevention) Regulations, 2007 (with amendments to 2013) | official | |
Reg. 7 requires identification and verification of customers and stops the business relationship if identity cannot be verified; customer information is reviewed at least once every seven years and whenever doubt arises (reg. 7(1)(c)). Reg. 7A covers risk profiles and enhanced due diligence; regs. 11-13 cover agents, introducers and evidence of identity; reg. 16 bars anonymous or fictitious-name accounts. |
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| No obligations match these filters. | |||||