new definition is included for: “designated business group” A designated business group identifies a group business entity that is allowed to share identification information between its members without breaching the “tipping off” offence. A designated business group will also be able to adopt one “joint anti-money laundering and counter-terrorism financing program” for the members of the group.

General overview of changes Part 1 – Introduction (including definitions); Part 2 – Identification Procedures; Part 7 – Anti-money Laundering and Counter-Terrorism Financing Programs; Part 8 – Correspondent Banking.....