Regulatory Alerts2025-01-01
Decision No. (3) of 2025 on High-Risk and Jurisdictions Under Increased Monitoring
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (3) of 2025 to update the lists of high-risk and jurisdictions under increased monitoring in alignment with FATF standards. The decision mandates financial institutions and designated non-financial businesses to apply enhanced due diligence and specific countermeasures against North Korea and Iran, while removing South Africa, Nigeria, Mozambique, and Burkina Faso from the grey list. It further requires regulated entities to consider identified deficiencies in AML/CFT systems when conducting self-assessments and provides detailed guidance on accessing mutual evaluation reports and implementing action plans.
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