The Joint Money Laundering Steering Group: AML final guidance for consumer credit providers

Following consultation on 29 January 2014, on 11 March 2014 the Joint Money Laundering Steering Group’s (JMSLG’s) board approved the final guidance for consumer credit firms relating to their compliance with anti-money laundering (AML) obligations. This was published on 20 March 2014.

This amends the JMLSG’s AML and counter-terrorist financing (CTF) guidance for the financial services sector by inserting a new chapter 11a (consumer credit providers) into the sector-specific guidance in Part II and is produced in the context of the Financial Conduct Authority’s assumption of responsibility for supervising such firms’ compliance with the AML obligations from 1 April 2014.

The guidance has been amended to set out and clarify consumer credit providers’ duties for compliance with money laundering and terrorist financing risks. It also provides guidance on assessing the risk of money laundering and carrying out customer due diligence…

Click on the link below to read the rest of the Walker Morris briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Walker Morris

View more briefings from Walker Morris

Analysis from The Lawyer

View more analysis from The Lawyer


Kings Court
12 King Street

Turnover (£m): 42.50
No. of lawyers: 188