Regulatory Alerts2021-01-01
Decision No. (2) of 2021 Concerning High-Risk Countries and Countries Under Enhanced Follow-Up
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (2) of 2021 to update the lists of high-risk and countries under enhanced follow-up in accordance with FATF standards. The decision designates North Korea and Iran as high-risk jurisdictions and modifies the enhanced follow-up list by removing Ghana while adding Haiti, Malta, South Sudan, and the Philippines. Palestinian financial institutions are mandated to implement the necessary legal measures and countermeasures associated with these designations effective from the date of circularization.
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