Regulatory Alerts2023-09-05
Instruction No. 15 (Modification No. 3)
The Central Bank of the Congo issues Instruction No. 15 (Modification No. 3) to establish risk-based anti-money laundering, counter-terrorism financing, and counter-proliferation financing norms for credit institutions and financial companies. The directive mandates comprehensive client identification, ongoing due diligence, and enhanced monitoring for high-risk transactions, politically exposed persons, and virtual asset service providers. It further requires covered entities to implement internal risk assessment processes, obtain prior compliance approvals for new products or technologies, and maintain updated records throughout the business relationship.
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