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ދިވެހިސަރުކާރުގެ ލޭންޑީއެޗްތަމް (Financial Intelligence Unit) ފަދަވެސް (FIU)

Guidelines for Compliance

The Maldives Financial Intelligence Unit (MFIU), under the regulations and instructions of Regulation and Instructions No. 47, has issued guidelines for compliance with international standards.

Key Highlights

• The MFIU is responsible for regulating and supervising financial institutions to prevent money laundering and terrorism financing.
• The guidelines outline the requirements for financial institutions to comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.
• Financial institutions are required to:
  • Conduct customer due diligence
  • Monitor transactions for suspicious activity
  • Report suspicious transactions to the MFIU
  • Maintain accurate records of customer information and transactions

Importance of Compliance

Compliance with AML/CFT regulations is crucial in preventing financial crimes, such as money laundering and terrorism financing. Non-compliance can result in severe penalties, including fines and reputational damage.

Conclusion

The guidelines issued by the MFIU provide a clear framework for financial institutions to comply with international standards. By following these guidelines, financial institutions can ensure that they are meeting their regulatory requirements and contributing to the prevention of financial crimes.