This Regulation lays down a set of additional measures, including minimum action, that credit institutions and financial institutions must take to effectively handle the money laundering and terrorist financing risk where a third country's law does not permit the implementation of group-wide policies and procedures as referred to in Regulation 20(1) and 20(3) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 at the level of branches or subsidiary undertakings that are part of the group and established in the third country.
You are viewing Article 1 Subject matter and scope as of Article 1 Subject matter and scope was last updated on 01/01/2021.