Regulatory Alerts2017-03-02
Decision of the Tunisian Financial Analysis Commission No. 2017-02 of March 2, 2017 establishing guidelines for financial professions on the detection and reporting of suspicious operations and transactions
The Tunisian Financial Analysis Commission issued Decision No. 2017-02 to establish comprehensive guidelines for financial professions on detecting and reporting suspicious operations and transactions under anti-money laundering and counter-terrorism financing laws. The decision mandates strict client identity verification, risk-based profiling, enhanced due diligence for politically exposed persons and high-risk jurisdictions, and the appointment of dedicated compliance correspondents within financial institutions. It further requires immediate reporting of suspicious activities, mandatory fund freezing upon regulatory order, and the systematic retention of client records for a minimum of ten years.
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