The Joint Money Laundering Steering Group (“JMLSG”) has published proposed revisions to Part I of its Guidance for the UK Financial Sector.
Revisions are proposed to:
- Paragraph 5.3.89 regarding identification and verification where identity is verified electronically; and
- Paragraphs 5.3.129A-D, regarding beneficial ownership.
Firms are invited to comment on the proposed revisions until 26th June 2023.