Regulatory Alerts2026-01-01
Decision No. 1 of 2026 - High-Risk and Increased Monitoring Jurisdictions
The Palestine Monetary Authority and the State of Palestine's Financial Follow-Up Unit issued Decision No. 1 of 2026 and Circular No. 7/2026 to enforce updated FATF lists of high-risk and increased monitoring jurisdictions. Financial institutions and specified non-financial businesses must apply targeted sanctions, enhanced due diligence, and strict countermeasures against North Korea and Myanmar, while integrating risk assessments for 22 grey-listed countries including newly added Kuwait and Papua New Guinea. Entities are required to implement these measures immediately, align their internal AML/CFT frameworks with FATF mutual evaluation reports, and execute action plans to address identified strategic deficiencies in correspondent banking, beneficial ownership, and transaction monitoring.