Regulatory Alerts2018-01-01
Decision No. (2) of 2018 on High-Risk and Non-Compliant Countries Regarding AML/CFT Standards
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (2018/2) on July 10, 2018, designating North Korea as a prohibited high-risk jurisdiction and listing Iran, Pakistan, Serbia, Ethiopia, Sri Lanka, Syria, Trinidad and Tobago, Yemen, and Tunisia as high-risk countries subject to specific anti-money laundering and counter-terrorist financing measures. The directive mandates all financial institutions operating in Palestine to implement enhanced and continuous due diligence protocols, including transaction verification and source-of-funds identification, when engaging with these jurisdictions. Effective immediately upon issuance, the decision updates previous regulatory tables and aligns Palestinian financial oversight with Financial Action Task Force (FATF) public statements and recommendations.