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FC-A.2.3

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

Module Ref.Change DateDescription of Changes
FC-4.3.107/2006Updated telephone number for the Director, Compliance Directorate.
FC-A.101/2007Updated to reflect new CBB Law: new Rule FC-A.1.4 introduced Categorising this Module as a Directive.
FC-4.3.101/2007Updated new e-mail address for the Compliance Directorate.
FC-3.3.704/2008Clarified to whom in the CBB, the reports required under Paragraph FC-3.3.1 should be submitted to.
Table of Contents07/2008Added Supplementary Information Documents to Part B.
FC-1.1.1107/2010Cross reference added.
FC-1.2.1, FC-1.2.3, FC-1.2.5, FC-1.9, FC-3.1, FC-3.2.1, FC-3.3.7, FC-4.2.3 and FC-4.3.107/2010Paragraphs amended.
FC-1.6 and FC-1.707/2010New sections added regarding enhanced CDD for charities, clubs and societies and “pooled funds'.
FC-3.307/2010Heading amended.
FC-A.1.401/2011Clarified legal basis.
FC-1.6.401/2011Corrected name of Compliance Directorate.
FC-3.1.601/2011Amended requirements for position of MLRO.
FC-3.1.610/2011Corrected minor typo to be in line with other Volumes of the CBB Rulebook.
FC-3.310/2011Amended Section to allow for CBB-approved consultancy firm to do required sample testing and report under Paragraph FC-3.3.1.
FC-3.3.5 and FC-3.3.601/2012Amended to reflect the addition of approved consultancy firm.
FC10/2014Updated to reflect February 2012 update to FATF Recommendations.
FC-1.1.1110/2015Clarified Rule for incomplete customer due diligence.
FC-10.1.401/2016Clarified Rule.
FC-1.2.807/2016Change made for consistency across CBB Rulebook.
FC-1.5.107/2016Aligned definition of PEPs as per FATF Recommendations.
FC-1.5.407/2016Definition of PEPs is already included in Glossary so this guidance paragraph was deleted.
FC-4.2.307/2016Updated instructions for STR.
FC-1.2.9A01/2017Added guidance paragraph on CR printing
FC-7.2.1AA04/2017Implementing and complying with the United Nations Security Council resolutions requirement.
FC-1.1.2B10/2017Amended paragraph on CDD requirements.
FC-1.2.710/2017Amended paragraph.
FC-1.2.8A10/2017Added new paragraph on legal entities or legal arrangements CDD.
FC-2.2.10 — FC-2.2.1110/2017Amended paragraphs on On-going CDD and Transaction Monitoring
FC-3.1.3A10/2017Added paragraph on combining MLRO or DMLRO position with any other position within the licensee.
FC-B.2.401/2018Amended paragraph.
FC-1.8.101/2018Amended paragraph.
FC-1.10.101/2018Deleted sub-paragraph.
FC-4.2.601/2018Amended paragraph.
FC-7.1.401/2018Amended paragraph.
FC-7.2.201/2018Deleted paragraph.
FC-1.1.207/2018Deleted sub-paragraph (a).
FC-1.2.107/2018Amended Paragraph deleting the threshold.
FC-1.10.207/2018Amended Paragraph.
FC-1.10.307/2018Deleted Paragraph.
FC-1.10.907/2018Deleted Paragraph.
FC-1.10.101/2019Amended references.
FC-3.3.2 - FC-3.3.501/2019Amended references.
FC-3.3.701/2019Amended references.
FC-6.1.201/2019Amended references.
FC-1.9.210/2019Amended authority name.
FC-3.1.710/2019Amended authority name.
FC-3.2.110/2019Amended authority name.
FC-4.2.310/2019Amended authority name.
FC-4.3.210/2019Amended authority name.
FC-7.2.1AA10/2019Defined 'without delay'.
FC-1.1.101/2020Amended Paragraph on procedures approval.
FC-1.2.101/2020Added a new sub-Paragraph.
FC-3.2.1(d)01/2020Amended sub-Paragraph.
FC-3.3.501/2020Amended Paragraph on report submission date.
FC-3.3.701/2020Amended Paragraphs references.
FC-2.1.3 & FC-2.1.404/2020Added new Paragraphs on KPIs compliance with AML/CFT requirements.
FC-5.1.6A01/2021Added a new Paragraph on requirements to hire new employees.
FC-A.1.401/2022Amended Paragraph to replace financial crime with money laundering and terrorism financing
FC-C01/2022New chapter on risk-based approach (RBA)
FC-1.101/2022Amended Section to introduce additional rules for non-resident customers, amendments to customers onboarded prior to full completion of customer due diligence, digital onboarding etc.
FC-1.201/2022Amended Section to include E-KYC and electronic documents law requirements.
FC-1.301/2022Amended Section on enhanced due diligence requirements for customers identified as having higher risk profile.
FC-1.401/2022Amended Section to introduce detailed requirements for digital onboarding and related requirements.
FC-1.5.201/2022Amended Paragraph on onboarding non-Bahraini PEPs using digital ID applications.
FC-1.601/2022Amended Section on Enhanced Due Diligence: Charities, Clubs and Other Societies.
FC-1.10.8A01/2022Added a new Paragraph on not applying simplified CDD in situations where the licensee has identified high ML/TF/PF risks.
FC-2.2.501/2022Amended Paragraph.
FC-3.3.1B01/2022Amended Paragraph.
FC-3.3.201/2022Amended Paragraph.
FC-3.3.501/2022Amended Paragraph.
FC-3.3.601/2022Deleted Paragraph.
FC-3.3.701/2022Deleted Paragraph.
FC-5.1.6A01/2022Deleted Paragraph.
FC-C.2.301/2023Minor amendment to Paragraph.
FC-7.2.4(c)01/2023Added a new Sub-paragraph on reporting any frozen assets or actions taken.
FC-1.1.12A10/2023Amended Sub-Paragraph on the enhanced diligence for the non-resident accounts.
FC-1.1.12G10/2023Deleted Paragraph.
FC-1.1.1510/2023Added a new Paragraph on CDD and Customer onboarding requirements.
FC-1.1110/2023Added a new Section on reliance on third parties for customer due diligence.
FC-1.2.101/2024Amended Paragraph on customer due diligence.
FC-1101/2024Added a new Chapter on Crypto-assets.