New JMLSG guidance faces criticism

New guidelines from the Joint Money Laundering Steering Group (JMLSG) on the prevention of money laundering and combating terrorist financing have been criticised for lacking depth but the group maintains it provides essential advice for financial institutions on issues not covered in existing legislation. The JMLSG third consultative paper updates areas of previous guidance, while also touching on some new issues. It aims to "assist firms by setting out guidance on how they may app

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