Regulatory Alerts2023-11-16
Circular 99-4 on Preventive Measures Banks Must Take to Combat Money Laundering and Terrorist Financing
The Bank of the Republic of Haiti issued Circular 99-4 to mandate preventive measures for banks to combat money laundering and terrorist financing. The regulation requires strict customer due diligence, including detailed identification and verification of physical persons, legal entities, and beneficial owners. Banks must implement enhanced scrutiny for politically exposed persons and remote account openings while adhering to specific documentation standards.
Share