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.

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