Regulatory Alerts2023-09-04
Circular 107-3 on the Prevention of Money Laundering and Terrorist Financing: Proportional Measures Based on Risk for Money Transfer Houses
The Bank of the Republic of Haiti issues Circular 107-3 to mandate proportional anti-money laundering and counter-terrorist financing measures for money transfer houses. The directive requires rigorous customer identification, enhanced due diligence for politically exposed persons, and the implementation of comprehensive internal compliance programs including risk assessments and independent audits. Failure to adhere to these standards may result in administrative sanctions ranging from warnings to the revocation of operating licenses.
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