1. Definition Updates: Definitions within the regulations have been revised to include references to proliferation financing and to clarify the responsibilities of competent authorities.
2. Risk Assessment: Requirements for identifying, assessing, and understanding money laundering, terrorist financing, and proliferation financing risks have been detailed, including documentation, risk factor consideration, and implementation of appropriate policies and controls.
3. Customer Due Diligence: Amendments to the enhanced customer due diligence measures to manage and mitigate identified risks, including measures specific to proliferation financing.
4. Record-Keeping and Reporting: Requirements for maintaining records, reporting suspicious activities, and sharing information with competent authorities have been updated to include proliferation financing considerations.
5. Supervisory Authorities: Designation and duties of Supervisory Authorities for designated non-financial businesses and professions (DNFBPs) have been clarified and expanded.
6. Enforcement and Penalties: Penalties for non-compliance, including administrative fines, have been revised and expanded to include individuals and entities involved in contraventions.

The Anti-Money Laundering (Amendment) Regulations, 2024 can be found here.