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MATS PROCEDURES PROCEDURE FOR THE MANAGEMENT OF WHOLESALE, INTERCONNECT OR, GENERATOR AND SAMPLE (WIGS) NMISPREPARED BY:AEMO MARKETSVERSION:4.56EFFECTIVE DATE:01 DECEMBER 2017 20 May 2019STATUS:FINALDRAFTApproved
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MSATS procedures - WIGs stands for Money Services Business Anti-Money Laundering and Counter-Terrorism Financing Program (MSATS) - WIGs, which are guidelines and regulations designed to combat money laundering and terrorist financing within the money services business sector.
All entities classified as money services businesses (MSBs) are required to file MSATS procedures - WIGs.
MSATS procedures - WIGs can be filled out by following the guidelines provided by the relevant regulatory authority or through the use of compliance software.
The purpose of MSATS procedures - WIGs is to prevent money laundering and terrorist financing activities within the money services business sector.
Information such as customer identification, transaction details, and suspicious activity reporting must be reported on MSATS procedures - WIGs.
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