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ARTICLE · 09 SEPTEMBER 2018

BVI AML Amendments To Keep Pace With Developments In The Digital World

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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The Code applies to persons (the "Entities") licenced or registered to carry out any ‘relevant business' (as such term is defined in the Anti-Money Laundering Regulations, 2008 and which includes, among other matters, banking business, insurance business and the business of company management), and also to non-financial businesses (designated as such in the Non-Financial Business (Designation) Notice, 2008).

GuernseyTechnology
Clinton Hempel
Clinton Hempel
Katrina Lindsay
Katrina Lindsay
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FinTech. ICOs. Blockchain. It is increasingly rare for a dialogue within the financial services industry to take place without reference to one of these words (or similar, related concepts).

The Anti-Money Laundering and Terrorist Financing (Amendment) (No. 2) Code (the "Code")

The Code applies to persons (the "Entities") licenced or registered to carry out any 'relevant business' (as such term is defined in the Anti-Money Laundering Regulations, 2008 and which includes, among other matters, banking business, insurance business and the business of company management), and also to non-financial businesses (designated as such in the Non-Financial Business (Designation) Notice, 2008). Any Entity that falls within the ambit of the Code is now able to take advantage of the following three key changes to the BVIs AML regime.

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