Regulatory Alerts2025-01-21
NBFIRA UN ISIL and Al-Qaeda Sanctions List
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) directs Botswana non-bank financial institutions to screen their records against the updated United Nations ISIL and Al-Qaeda sanctions list, which recently added five key individuals. Institutions must immediately report screening outcomes to the Financial Intelligence Agency and apply enhanced due diligence to high-risk jurisdictions flagged by the FATF. Non-compliance constitutes a statutory offence under the Financial Intelligence Act and significantly increases exposure to terrorist financing risks.
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