Regulatory Alerts2023-07-27
Regulatory Decision on Anti-Money Laundering and Counter-Terrorist Financing Measures for Financial Institutions
The Central Bank of the Comoros issues this regulatory decision to mandate that financial institutions implement risk-based measures to identify, assess, and mitigate money laundering and terrorist financing risks. The document requires institutions to maintain updated risk maps, apply enhanced due diligence to Politically Exposed Persons and their associates, and establish robust internal controls and reporting procedures. It further outlines the conditions for outsourcing due diligence to third parties and defines specific administrative sanctions for non-compliance with these obligations.
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