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These Regulations may be cited as the Anti-Money Laundering (Money Services Business Threshold Reporting) Regulations, 2020.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Definitions 2. In these Regulations \u2014 \u201clicensee\u201d has the meaning assigned by section 2 of the Money Services Law (2020 Revision); \u201cmoney services business\u201d has the meaning assigned by section 2 of the Money Services Law (2020 Revision); \u201cmoney services business report\u201d means a quarterly report of transactions carried out by a money services business, including threshold transactions, required to be submitted to the Financial Reporting Authority in accordance with regulation 3; Regulation 3 Anti-Money Laundering (Money Services Business Threshold Reporting) Regulations, 2020 SL 141 of 2020 \u201creporting quarter\u201d means the quarterly period in respect of which a money services business must provide a money services business report; \u201csub-agent\u201d has the meaning assigned by section 2 of the Money Services Law (2020 Revision); \u201cthreshold transaction\u201d means a transaction involving a transfer of funds within, into or out of the Islands, where the total amount of money transferred exceeds three thousand five hundred United States dollars \u2014 (a) in a single transaction; or (b) in the aggregate where there is more than one transfer of funds within, into or out of the Islands by the same sender or receiver, within a period of one month; and \u201ctransfer of funds\u201d has the meaning assigned by regulation 2(1) of the AntiMoney Laundering Regulations (2020 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Reporting requirements in respect of money services business 3. (1) A licensee shall provide to the Financial Reporting Authority a money services business report on a quarterly basis in respect of its transactions and those of its sub-agents, including threshold transactions, that occurred in each calendar month within the respective reporting quarter. (2) A licensee shall submit the money services business report referred to in paragraph (1) no later than the last business day of the month following the end of each reporting quarter in a calendar year, unless prior written approval for an extension has been granted by the Financial Reporting Authority. (3) The money services business report referred to in paragraph (1) shall be submitted in such form as the Financial Reporting Authority may determine and shall contain the following information \u2014 (a) the particulars specified in paragraph (4); and (b) any other information which the Financial Reporting Authority may require pursuant to section 4(2)(aa) of the Law. (4) A money services business report shall contain the following particulars \u2014 (a) the aggregate number of transactions for each month in the reporting quarter; (b) the aggregate value of transactions for each month in the reporting quarter; (c) the largest single transaction for each month in the reporting quarter; (d) the total value of amounts transferred to another country for each month in the reporting quarter; (e) the total value of amounts transferred from another country for each month in the reporting quarter; (f) in respect of outgoing remittances for threshold transactions \u2014 Anti-Money Laundering (Money Services Business Threshold Reporting) Regulations, 2020 Regulation 3 SL 141 of 2020 (i) the full name of the sender; (ii) the date of birth of the sender; (iii) the type and number of the identification document used to verify the identity of the sender; (iv) the occupation of the sender, if known; (v) the form and the amount of the source of funds for the transaction, if known; (vi) the relationship between the sender and the recipient, if known; (vii) the purpose of the transfer, if known; (viii) the date on which the transfer was sent; (ix) the location of the licensee or sub-agent where the transfer was sent by the sender; (x) the country to which the remittance was sent; (xi) the name of the recipient; and (xii) the amount of the transfer in United States dollars; and (g) in respect of incoming remittances for threshold transactions \u2014 (i) the full name of the recipient; (ii) the date of birth of the recipient; (iii) the type and number of the identification document used to verify the identity of the recipient; (iv) the occupation of the recipient, if known; (v) the relationship between the sender and the recipient, if known; (vi) the purpose of the transfer, if known; (vii) the date on which the transfer was collected by the recipient; (viii) the location of the licensee or sub-agent where the transfer was collected by the recipient; (ix) the country from which the remittance was sent; (x) the name of the sender; and (xi) the amount of the transfer in in United States dollars. (5) A licensee who fails to submit a money services business report in accordance with this regulation commits an offence and is liable on summary conviction to a fine of five thousand dollars. Regulation 3 Anti-Money Laundering (Money Services Business Threshold Reporting) Regulations, 2020 SL 141 of 2020 (6) A licensee who knowingly or recklessly provides any information to the Financial Reporting Authority which is false or misleading in a material particular commits an offence and is liable on summary conviction to a fine of ten thousand dollars. Made in Cabinet the 10th day of November, 2020. 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or\n(b) in the aggregate where there is more than one transfer of funds within, into\nor out of the Islands by the same sender or receiver, within a period of one\nmonth; and\n\u201ctransfer of funds\u201d has the meaning assigned by regulation 2(1) of the AntiMoney Laundering Regulations (2020 Revision).\n3.\nReporting requirements in respect of money services business\n3.\n(1) A licensee shall provide to the Financial Reporting Authority a money services\nbusiness report on a quarterly basis in respect of its transactions and those of its\nsub-agents, including threshold transactions, that occurred in each calendar\nmonth within the respective reporting quarter.\n(2) A licensee shall submit the money services business report referred to in\nparagraph (1) no later than the last business day of the month following the end\nof each reporting quarter in a calendar year, unless prior written approval for an\nextension has been granted by the Financial Reporting Authority.\n(3) The money services business report referred to in paragraph (1) shall be\nsubmitted in such form as the Financial Reporting Authority may determine and\nshall contain the following information \u2014\n(a) the particulars specified in paragraph (4); and\n(b) any other information which the Financial Reporting Authority may require\npursuant to section 4(2)(aa) of the Law.\n(4) A money services business report shall contain the following particulars \u2014\n(a)\nthe aggregate number of transactions for each month in the reporting\nquarter;\n(b) the aggregate value of transactions for each month in the reporting quarter;\n(c)\nthe largest single transaction for each month in the reporting quarter;\n(d) the total value of amounts transferred to another country for each month in\nthe reporting quarter;\n(e)\nthe total value of amounts transferred from another country for each month\nin the reporting quarter;\n(f)\nin respect of outgoing remittances for threshold transactions \u2014\n\nAnti-Money Laundering (Money Services Business Threshold\nReporting) Regulations, 2020\nRegulation 3\n\nc\n SL 141 of 2020\nPage 5\n\n(i)\nthe full name of the sender;\n(ii) the date of birth of the sender;\n(iii) the type and number of the identification document used to verify the\nidentity of the sender;\n(iv) the occupation of the sender, if known;\n(v) the form and the amount of the source of funds for the transaction, if\nknown;\n(vi) the relationship between the sender and the recipient, if known;\n(vii) the purpose of the transfer, if known;\n(viii) the date on which the transfer was sent;\n(ix) the location of the licensee or sub-agent where the transfer was sent\nby the sender;\n(x) the country to which the remittance was sent;\n(xi) the name of the recipient; and\n(xii) the amount of the transfer in United States dollars; and\n(g) in respect of incoming remittances for threshold transactions \u2014\n(i)\nthe full name of the recipient;\n(ii) the date of birth of the recipient;\n(iii) the type and number of the identification document used to verify the\nidentity of the recipient;\n(iv) the occupation of the recipient, if known;\n(v) the relationship between the sender and the recipient, if known;\n(vi) the purpose of the transfer, if known;\n(vii) the date on which the transfer was collected by the recipient;\n(viii) the location of the licensee or sub-agent where the transfer was\ncollected by the recipient;\n(ix) the country from which the remittance was sent;\n(x) the name of the sender; and\n(xi) the amount of the transfer in in United States dollars.\n(5) A licensee who fails to submit a money services business report in accordance\nwith this regulation commits an offence and is liable on summary conviction to\na fine of five thousand dollars.\n\nRegulation 3\nAnti-Money Laundering (Money Services Business Threshold\nReporting) Regulations, 2020\n\nPage 6\n SL 141 of 2020\nc\n\n(6) A licensee who knowingly or recklessly provides any information to the\nFinancial Reporting Authority which is false or misleading in a material\nparticular commits an offence and is liable on summary conviction to a fine of\nten thousand dollars.\n\nMade in Cabinet the 10th day of November, 2020.\n\nDavina Wilson\nActing Clerk of the Cabinet","akn_extracted_at":"2026-06-22 15:38:05.511009+00","cms_id":"2020-0141","law_type":"subordinate","year":"2020","number":"141","title":"Anti-Money Laundering (Money Services Business Threshold Reporting) Regulations","status":"in_force"},"provenance":{"files":[{"file_id":"5811","expr_id":"672","kind":"akn_xml","filename":"2020-0141_SL 141 of 2020.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/2020\/2020-0141\/2020-0141_SL 141 of 2020.akn.xml","content_md5":"38cede2a9250aaf1dbc37af0df0fa100","byte_size":"8917","http_last_modified":null,"fetched_at":"2026-06-22 15:38:05.55815+00"},{"file_id":"1343","expr_id":"672","kind":"pristine_pdf","filename":"2020-0141_SL 141 of 2020.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/2020\/2020-0141\/2020-0141_SL 141 of 2020.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/SUBORDINATE\/2020\/2020-0141\/2020-0141_SL 141 of 2020.pdf","content_md5":"bc844a966f06cc91191d19eb06ac895a","byte_size":"766770","http_last_modified":null,"fetched_at":"2026-06-21 23:09:37.684854+00"},{"file_id":"1344","expr_id":"672","kind":"working_pdf","filename":"2020-0141_SL 141 of 2020.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/2020\/2020-0141\/2020-0141_SL 141 of 2020.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/2020\/2020-0141\/2020-0141_SL 141 of 2020.pdf","content_md5":"bc844a966f06cc91191d19eb06ac895a","byte_size":"766770","http_last_modified":null,"fetched_at":"2026-06-21 23:09:37.684854+00"}],"paragraph_count":9,"latest_history":null},"quality":{"expr_id":"672","doc_id":"672","quality_state":"needs_review","quality_score":"76","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise}","llm_categories":"{other}","repair_actions":"{collapse_duplicate_text,manual_review,strip_page_furniture}","finding_severity_counts":"{\"low\": 1}","finding_summary":"Minor paragraph\u2011numbering inconsistency detected; 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