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  • Executive Summary

    • FC-A.1.1

      This Module applies, to all specialised licensees, a comprehensive framework of Rules and Guidance aimed at combating money laundering and terrorist financing. In so doing, it helps implement the 40 Recommendations on money laundering and 9 Special Recommendations on terrorist financing, issued by the Financial Action Task Force (FATF), that are relevant to specialised licensees. (Further information on these can be found in Chapter FC-10.) The Module also contains measures relating to the combating of fraud.

      October 2010

    • FC-A.1.2

      The Module requires specialised licensees to have effective anti-money laundering ('AML') policies and procedures, in addition to measures for combating the financing of terrorism ('CFT'). The Module contains detailed requirements relating to customer due diligence, reporting and the role and duties of the Money Laundering Reporting Officer (MLRO). Furthermore, examples of suspicious activity are provided, to assist licensees monitor transactions and fulfill their reporting obligations under Bahrain law.

      October 2010

    • FC-A.1.3

      This Module also covers measures in place to combat fraud. Chapter FC-11 sets out basic requirements regarding measures to deter, detect and report instances of fraud and attempted fraud.

      October 2010