Regulatory Alerts2021-07-07 | No. E/80/2021Oman Capital Market Authority Instructions on Implementing the Money Laundering and Terrorism Financing Law
The Oman Capital Market Authority issued Decision E/80/2021 to direct licensed securities institutions and the Muscat Clearing and Depository Company to implement the national Money Laundering and Terrorism Financing Law. The decision mandates comprehensive risk assessments, tiered customer due diligence measures, and strict identification and verification protocols for natural persons, legal entities, trusts, and beneficial owners. It supersedes prior regulations by establishing enhanced and simplified due diligence frameworks, requiring ongoing monitoring of high-risk customers, and enforcing strict record-keeping to mitigate financial crime exposures.
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