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  • FC-A.2 FC-A.2 Module History

    • Changes to the Module

      • FC-A.2.1

        This Module was first issued in July 2004 as part of the conventional principles volume. All regulations in this volume have been effective since this date. All subsequent changes are dated with the month and year at the base of the relevant page and in the Table of Contents. Chapter UG-3 of Module UG provides further details on Rulebook maintenance and control.

      • FC-A.2.2

        A list of recent changes made to this Module is detailed in the table below:

        Module Ref. Change Date Description of Changes
        FC 01/04/05 Update to reflect revised FATF 40 + 9 recommendations
        FC-1.4 01/07/05 Technology abuse update
        FC-1.1 01/07/05 Nominee a/c clarification
        FC-1.3 FC-2.2 FC-5.2 01/07/05 Clarifications on risk-based approach, record keeping, and STRs
        FC-6.1 01/07/05 New references to "terrorist financing"
        FC-7.1 01/07/05 Prompt access to records is a rule
        FC-2.2 01/10/05 Up to date CDD documentation requirement
        FC-1.8 01/10/05 Location of correspondent
        FC-1.9 01/10/05 Location of introducer
        FC-4.2, FC-4.3 01/10/05 Requirement to report to Board
        FC 01/10/05 Reordering of sections
        FC-1.11.1 01/01/06 New text for syndicated business
        FC-1.1.3, FC-1.2.8,
        FC-1.2.11, FC-3.1.4        		 01/01/06 Correction of minor typos

    • Evolution of the Module

      • FC-A.2.3

        Prior to the introduction of Volume 1 (Conventional Banks) of the BMA Rulebook, the BMA had issued various circulars containing requirements covering different aspects of financial crime. These requirements were consolidated into Version 01 of this Module. Some of these requirements remain in their original form; others have since been updated. These circulars and their original location in this Module are listed below:

        Circular Ref. Date of Issue Module Ref. (Version 01) Circular Subject
        BC/17/97 10 Nov 1997 FC-B.1 Money Laundering
        OG/308/89 14 Oct 1989 FC-B.1 Money Laundering
        EDBC/6/01 14 Oct 2001 FC-1, FC-4–FC-7 Re: Money Laundering Regulation
        BC/1/02 27 Jan 2002 FC-3 FATF Special Recommendations on Terrorism Financing
        BC/3/00 5 Mar 2000 FC-1.5 Re: Accounts for Charity Organisations