News

AML non-compliance revealed

Monday 10th of November 2014

The FMA has released its first AML/CFT monitoring report. There are 588 AFAs who are reporting entities, of 796 supervised by the FMA.

In its first year of monitoring, it conducted 36 reviews of REs. The largest number of those were of financial advisers. There were six on-site reviews of advisers and five desk-based.

The FMA said it was pleased with REs’ attempts to comply. But t...

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