Ongoing Monitoring is a vital part of the AML/CFT Compliance Program, and is one of the areas that is assessed during an onsite examination. Examiners seek to ensure that regulated entities have adequate procedures in place for effective ongoing monitoring at periodic intervals. This Month’s Newsletter outlines the statutory provisions for ongoing monitoring based on the requirements of the Anti-Money Laundering Regulations (AMLR), 2011 and the Financial Services (Implementation of Industry Standards) Regulations (FSIISR), 2011.
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