Act 2016 status not recorded
Financial Intelligence Centre (Amendment) Act, 2016
Plain-English summary
Act No. 4 of 2016, assented to on 5 April 2016, is read as one with the Financial Intelligence Centre Act, 2010. It adds definitions of beneficial owner, high-risk customer and politically exposed persons, allows records to be kept electronically (section 15) and sets conditions for a compliance officer: two years' experience in regulatory compliance, no conviction, and approval by the Centre (section 16).
Who it applies to
Banking · NBFC / Non-bank Lending · Insurance · Capital Markets · Payments & Fintech · Crypto / VDA · DNFBPs (Lawyers, Accountants, Dealers)
Topics
AML / CFT / Sanctions
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