Amended AML/CTF Act and Rules take effect: new AML/CTF program and customer due diligence requirements, more virtual asset services regulated, new definition of bearer negotiable instruments.
AML: your AML/CTF program, CDD policies and governance must now map to the outcomes-based reform framework, so the board and senior management need to own the updated program. Identity: transitional rules let you keep current ACIP identification procedures while you migrate (see 30 Mar 2029). People and process: policy owners, frontline staff and training plans need updating, not just systems.
Banks, Existing reporting entities