Regulatory Alerts2025-01-01
Palestine Monetary Authority Circular No. 2025/2: High-Risk Jurisdictions and Jurisdictions Under Enhanced Follow-Up
The Palestine Monetary Authority issued Circular No. 2025/2 to enforce Financial Follow-Up Unit Decision No. 2025/1, which updates the lists of high-risk and enhanced follow-up jurisdictions based on FATF standards. Financial institutions and designated non-financial businesses are required to apply enhanced due diligence, restrict certain transactions, and conduct self-assessments regarding deficiencies in the AML/CFT systems of listed countries. The directive specifically mandates strict sanctions for North Korea and Myanmar, while adding Laos and Nepal to the grey list and removing the Philippines.
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