Provision No. 111 issued by IVASS on 13 July, 2021 entered into force on 25 July 2021.
Provision 111 set out the provisions on money laundering risk mitigation procedures to identify the size and organizational requirements under which obligated parties shall appoint the AML/CFT function holder and the person responsible for reporting suspicious transactions. Provision 111 also contains amendments/integrations to Regulation 44 on AML.
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New IVASS rules on AML in force as from 25 July, 2021
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