Regulatory Alerts2025-01-01
Decision No. (1) of 2025
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (1) of 2025 to implement FATF high-risk and enhanced monitoring country lists. The decision mandates enhanced due diligence and specific prohibitions for transactions with North Korea and Iran, while updating the enhanced monitoring list to include Laos and Nepal and remove the Philippines. Financial institutions and designated non-financial businesses are required to apply risk-based approaches and address strategic deficiencies in AML/CFT regimes as outlined in the attached action plans.
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