President Danny Faure has today assented to an amendment to the Anti-Money Laundering Act 2006, which follows a Private Members Bill which received the support of both political parties in the National Assembly.

The act as amended imposes stricter conditions on the Financial Intelligence Unit in relation to its powers to freeze funds suspected of being the subject of money laundering.  However the amendments will bring the Anti Money Laundering Act in line with international best practice in the field.