New AML Code Introduced to Maintain Island\'s International Reputation
The Department of Home Affairs have been informing local businesses on the Island about anti-money laundering changes due to come into force next month.
The
message has been sent out specifically to non-financial businesses and
professionals who could be seen as a vulnerable target for money launderers.
There is a new proceeds of crime code that has been introduced, it will apply to all businesses that accept cash payments of the equivalent of 15,000 euros or more.
The Department of Home Affairs have said it’s essential that all the relevant businesses comply with the code in an effort to maintain the Island’s international reputation.
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