AML/CFT designated business group formation and change guideline

This guideline is designed to help reporting entities forming a designated business group (DBG) understand the process for doing so. Entities may form a DBG if they are eligible to do so under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act) and associated regulations. This guideline highlights the eligibility criteria and election process, and explains the process for notifying an AML/CFT supervisor of the formation of a DBG, any addition or withdrawal of a member, or any change in details. Guidance on information sharing in a DBG is provided in the DBG Scope Guideline.

The forms that you will need to elect, form, change or terminate a DBG are attached at the end of this guideline.

Download Designated Business Group - Formation and Change Guideline PDF, 240KB.

Related

Download Designated Business Group - Scope Guideline PDF, 120KB.