Circular setting out minimum expectations for Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) controls across operators and suppliers.
This circular defines baseline AML / CFT expectations. Applicants must demonstrate not only policies, but actual monitoring, escalation, and control ownership.
| Control Area | Expectation |
|---|---|
| Customer Due Diligence | Identity verification, risk classification, and onboarding controls |
| Ongoing Monitoring | Transaction monitoring with defined alert triggers |
| Escalation | Clear internal escalation pathway for suspicious activity |
| Recordkeeping | Retention of logs, alerts, and investigation outcomes |
| Reporting | Defined process for reporting suspicious activity where required |
For clarification:
This circular takes effect immediately upon publication.
