PMA Issues Anti-Money Laundering Manual for Money Changers

PMA has issued the Anti-Money Laundering Manual for Money Changers to introduce money changers to the adverse effects of money laundering on the various economic and social sectors, as well as to reinforce the principles of sound currency exchange business and highlight its positive impact on the national economy. The Manual also seeks to encourage the collaboration of different parties, including the government, the judicial system, civil society and the private sector, to combat and eliminate this crime and establish a real economy which effectively contributes to sustainable economic development.

The Manual elaborates the concept of money laundering, the accomplices, the stages and the adverse effects on the currency exchange, as well as on the economy in general. The Manual includes practices which implicate the money changer in the money laundering crime. It also includes the indicators that are deemed suspicious and suggesting of participation in the crime of money laundering, as well as ways to avoid such implication. Furthermore, the Manual outlines the stages of money laundering process.

The PMA is keen on publishing this manual out of its interest to support the currency exchange sector by creating a fair-competition environment, facilitating access to administrative and technological systems and promoting an institutional work culture for the advancement of the sector and its conformance with global developments.

The Manual has been published on the PMA website  and can be accessed here.


Categories: PMA, Publications