Regulatory Alerts2021-01-01
Decision No. (1) of 2021 Concerning High-Risk Countries and Countries Under Enhanced Monitoring
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (1) of 2021 to update the lists of high-risk and countries under enhanced monitoring in accordance with FATF standards. The decision designates North Korea and Iran as high-risk jurisdictions and adds Burkina Faso, the Cayman Islands, Morocco, and Senegal to the enhanced monitoring list. All financial institutions and designated non-financial businesses and professions in Palestine are required to implement the necessary legal measures and countermeasures associated with these designations.
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