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MIGI 15.2 Financial Crime

What action does your firm have to take in relation to financial crime?

MIGI 15.2.1G

Our money laundering rules, which are set out in the Money Laundering sourcebook (ML), do not apply to mortgage intermediaries or to insurance intermediaries carrying on insurance mediation activities relating to general insurance and pure protection contracts. However, your firm is still required to maintain appropriate safeguards against financial crime and to comply with the general legal requirements relating to money laundering. Under the Senior Management Arrangements, Systems and Controls sourcebook (SYSC) (see Part I, Chapter 3) an FSA authorised firm must ensure that it maintains adequate systems and controls to counter the risk of that firm being used to further financial crime.

MIGI 15.2.2G

The following chapters of this Guide are also relevant:

Senior Management Arrangements, Systems and Controls - Part I, Chapter 3.2