Regulatory Alerts2023-01-01
Circular No. 16 of 2023 - Guidelines for Politically Exposed Persons
The Palestine Monetary Authority issued Circular No. 6/2023 to mandate compliance with the National Committee for Combating Money Laundering and Financing of Terrorism's Guidelines on Politically Exposed Persons. Money changers operating in Palestine must implement enhanced due diligence procedures for all financial transactions conducted on behalf of such individuals. Additionally, institutions are required to inform and train relevant staff on the specific identification requirements and risk mitigation protocols detailed in the attached guidelines.
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