Regulatory Alerts2024-06-26
Regulation on Prevention of Money Laundering and Financing of Terrorism
The Board of the Central Bank of Kosovo issued this Regulation to establish comprehensive Anti-Money Laundering and Counter-Terrorist Financing (PML/CFT) requirements for all licensed financial institutions. It mandates the implementation of risk-based PML/CFT programs, independent compliance functions led by qualified heads, and robust customer due diligence and identification procedures. Furthermore, it requires continuous risk assessments, enhanced monitoring of high-risk relationships, and timely reporting of suspicious activities to the Financial Intelligence Unit.
Share