Regulatory Alerts2025-01-01
Decision No. (1) of 2025 on High-Risk and Enhanced Monitoring Countries
The Palestine Monetary Authority's Financial Monitoring Unit issued Decision No. (1) of 2025 to update the lists of high-risk and enhanced monitoring countries in accordance with FATF standards. The decision mandates financial institutions and designated non-financial businesses to apply enhanced due diligence, restrictive measures, and risk-based approaches toward jurisdictions identified as high-risk or under enhanced monitoring. It specifically adds Laos and Nepal to the enhanced monitoring list while removing the Philippines, and requires strict compliance with sanctions and reporting obligations for countries like North Korea and Iran.
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