On Feb. 11, LTH FIU announced firms can submit information to FCIS.
LTH FIU announced virtual currency wallet and exchange operators (VASP sector firms) can submit mandatory information to Financial Crimes Investigation Service (FCIS).
Overview
The FCIS continually seeks innovative solutions and technological tools to enhance risk assessment in supervising measures against money laundering and terrorist financing.
With rising number of entities, FCIS began using STRIX tool in 2023 to assess money laundering/terrorist financing risks based on data collected from targeted surveys.
Data submission form for VASP sector firms that are required to submit data on money laundering and/or terrorist financing prevention measures to FCIS already activated.
The procedure for submitting information related to the implementation of money laundering and/or terrorist financing prevention measures by companies in the VASP sector to the FCIS is regulated by an order of the director of the service.
Effectiveness
Data submission form must be completed and submitted to FCIS by Mar. 31, 2025.
