The Joint Money Laundering Steering Group (JMLSG) has today published its proposed amendments to its Money Laundering Guidance as a result of its three-month long industry consultation.

The proposed amendments include the following changes:
• increased reference to international expectations;
• references to the revised Financial Action Task Force recommendations relating to a risk-based approach; and
• changes to provisions which have been difficult to implement in practice.
The deadline for comments is 16 September 2013.

A copy of the amended consultation text is available from the JMLSG website. http://www.jmlsg.org.uk/industry-guidance/article/summary-of-proposed-guidance-amendments