Regulatory Alerts2023-11-29
Circular 128-1 on Preventive Measures Against Money Laundering and Terrorist Financing
The Central Bank of Haiti issued Circular 128-1 to mandate comprehensive anti-money laundering and terrorist financing preventive measures for all money exchange offices. The regulation requires exchange offices to implement strict customer due diligence, risk profiling, beneficial owner identification, and enhanced scrutiny for politically exposed persons, while establishing a formal compliance program with designated officers, continuous training, and independent annual testing. Furthermore, it enforces mandatory five-year document retention, strict reporting obligations for suspicious or threshold-exceeding transactions to the Financial Intelligence Unit, and detailed internal controls to ensure ongoing regulatory adherence.
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