Regulatory Alerts2024-12-29
Circular CN/2024/10079: High Risk Jurisdictions
The Maldives Monetary Authority's Financial Intelligence Unit issued Circular CN/2024/10079 to mandate enhanced due diligence for transactions involving high-risk jurisdictions. Reporting Entities must apply counter-measures to mitigate money laundering and terrorist financing risks associated with countries identified by the Financial Action Task Force as having weak AML/CFT measures. Entities are responsible for staying informed of FATF updates and may receive additional guidance from the Unit based on locally relevant contextual factors.
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