REPORTING ENTITIES
CO & ACO Registration form
Pursuant to Part C of the First Schedule of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (“AML/FT Act”) as amended, the Financial Intelligence Unit (“FIU”) is the designated supervisory authority for the Motor Vehicle Dealers which falls under the category of High Value Dealers.
In accordance to section 12.2 of the AML/CFT Act 2020 as amended, the FIU shall monitor and enforce compliance of the reporting entities under its supervision and shall be responsible for promoting compliance with the provisions of the Act by all the reporting entities.
Pursuant to Part C of the First Schedule of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (“AML/CFT Act”) as amended, the Financial Intelligence Unit (“FIU”) is the designated supervisory authority for the Real Estate Agents.
Persons for the Real Estate Agents, by way of business, provides the following service –
- A person who provides real estate agency services for or on behalf of third parties concerning the buying or selling of immovable property
In accordance to section 12.2 of the AML/CFT Act 2020 as amended, the FIU shall monitor and enforce compliance of the reporting entities under its supervision and shall be responsible for promoting compliance with the provisions of the Act by all the reporting entities.
Pursuant to Part C of the First Schedule of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (“AML/CFT Act”) as amended, the Financial Intelligence Unit (“FIU”) is the designated supervisory authority for the Accountants & Auditors.
Persons for the Accountants & Auditors, by way of business, provides any of the following services –
- External accountancy services;
- Tax advice;
- Audit services; or
- Insolvency services.
Following the above;
- “External accounting services” means accountancy services provided to customers for remuneration and excluded services provided by accountants employed by public authorities or by public authorities or by undertakings which do not by way of business provide accountancy services to third parties;
- “Audit services” are audit services provided by the way of business pursuant to any function under any enactment; and
- “Insolvency services” are services provided by a person if, by way of business, that person accepts appointment as a liquidator under the Companies Act, Insolvency Act, International Business Companies Act or the Foundations Act.
In accordance to section 12.2 of the AML/CFT Act 2020 as amended, the FIU shall monitor and enforce compliance of the reporting entities under its supervision and shall be responsible for promoting compliance with the provisions of the Act by all the reporting entities.
Pursuant to Part C of the First Schedule of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (“AML/CFT Act”) as amended, the Financial Intelligence Unit (“FIU”) is the designated supervisory authority for the Dealers in precious metals and stones.
In accordance to section 12.2 of the AML/CFT Act 2020 as amended, the FIU shall monitor and enforce compliance of the reporting entities under its supervision and shall be responsible for promoting compliance with the provisions of the Act by all the reporting entities.
Pursuant to Part C of the First Schedule of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (“AML/CFT Act”) as amended, the Financial Intelligence Unit (“FIU”) is the designated supervisory authority for the Lawyers and Notaries.
Persons for the Lawyers and Notaries, is being defined by the AML/CFT Act as an independent legal professional or a notary.
As such an “independent legal professional” means a person of firm who or which by way of business provides legal or notarial services to third parties when preparing for in carrying out transactions concerning any of the following –
- Buying and selling of movable or immovable property or business entities;
- Managing client’s money, securities or other assets;
- Opening or managing bank, savings or securities accounts;
- The organization of contributions necessary for the creation, operation, operation or management of companies; or
- The creation, operation or management of trusts, companies or similar structures, excluding any activity that requires a licence under the International Corporate Services Act.
In accordance to section 12.2 of the AML/CFT Act 2020 as amended, the FIU shall monitor and enforce compliance of the reporting entities under its supervision and shall be responsible for promoting compliance with the provisions of the Act by all the reporting entities.