Anti-Money Laundering Bulletin on Funds and Fund Management Companies – November 2021

Funds
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Date: 17 November 2021

The Central Bank has published the 7th edition of the Anti-Money Laundering Bulletin, which contains information on the Central Bank’s AML/CFT supervisory engagements with Funds and Fund Management Companies since 2019. These engagements have highlighted weaknesses in the following:

  • Corporate Governance,
  • AML/CFT/FS Business Wide Risk Assessment
  • Outsourced AML/CFT/FS Activities; and
  • Customer Due Diligence

While the Bulletin focuses on findings on the Central Bank’s supervisory engagements with Funds and Fund Management Companies, it is the expectation that firms across all sectors critically assess their Anti-Money Laundering / Countering the Financing of Terrorism & Financial Sanctions (AML/CFT/FS) frameworks against the Central Bank’s expectations.

Anti-Money Laundering Bulletin on Funds and Fund Management Companies