Regulatory Alerts2025-11-07
BSP Circular CL-2025-___: FATF Publications – 24 October 2025
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2025-___ to direct all BSP-supervised financial institutions to comply with Financial Action Task Force publications dated 24 October 2025 regarding high-risk jurisdictions and monitoring updates. The circular mandates enhanced due diligence and countermeasures for the Democratic People’s Republic of Korea, Iran, and Myanmar, while noting that Burkina Faso, Mozambique, Nigeria, and South Africa have been removed from the increased monitoring list. Additionally, the document reiterates the suspension of the Russian Federation’s FATF membership and urges institutions to remain vigilant against risks arising from the circumvention of sanctions.
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