Anti-Money Laundering (AML) and Countering Financing Terrorism (CFT) act was initialised in 2009. Since its publishing, it has seen two major amendments, known as Phase 1 and Phase 2. The Phase 2 regulations now require a larger range of businesses to be compliant such as, real estate agents, lawyers and accountants. The Ammendment also dictates some changes in regulation to those who were already required to comply.
Find out when, how and if you are required to be compliant directly from the Ministry of Justice below, changes in force as of:
1st July 2018
1st October 2018
1 January 2019
1st August 2019
Anticipating the Phase 2 changes, APLY was developed as a full SaaS solution to ensure that those effected are able to comply at ease, without integration and at low cost.