Regulatory Alerts2021-01-01
Decision No. (3) of 2021 - High-Risk and Increased Monitoring Jurisdictions
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (2021/3) on October 24, 2021, to update the lists of high-risk and jurisdictions under increased monitoring in alignment with FATF standards. The decision maintains North Korea and Iran on the high-risk list while modifying the increased monitoring list by removing Botswana and Mauritius and adding Jordan, Turkey, and Mali. Palestine Monetary Authority Circular No. (198/2021) mandates that all payment service companies operating in Palestine implement the necessary legal measures to comply with these regulatory requirements.
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