Circular Letter 08/2014: Statements issued by Financial Action Task Force on Money Laundering

All banks operating in Timor-Leste are required to implement and apply appropriate measures given the risks identified in the Financial Action Task Force's updated statements on jurisdictions with strategic anti-money laundering and counter-terrorist financing deficiencies. This obligation applies pursuant to article 11 of Public Instruction 02/2004. The directive references specific FATF statements dated 28 June 2014 concerning jurisdictions with strategic deficiencies and those with established action plans.

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GOVERNOR

Dili, 31 July 2014

Chief Executive Officers
All banks operating in Timor-Leste

Circular Letter 08/2014: Statements issued by Financial Action Task Force on Money Laundering

On 28 June 2014 the Financial Action Task Force on Money Laundering and Terrorism Financing (FATF) issued an updated statement on a number of jurisdictions identified as having strategic deficiencies in their anti-money laundering and counter-terrorist financing (AML/CFT) regimes. The statement can be accessed at: http://www.fatf-gafi.org/documents/news/public-statement-june-2014.html.

All banks are required to implement and apply appropriate measures given the risks identified, pursuant to article 11 of Public Instruction 02/2004.

The FATF has also issued an updated statement identifying jurisdictions that have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF and provided a written high level political commitment to address the identified deficiencies. The statement can be found at: http://www.fatf-gafi.org/topics/key/fatf-compliance-june-2014.html.

Sincerely yours,

Abraão de Vasconselos

BANCO CENTRAL DE TIMOR-LESTE
Avenida Bispo Medeiros
P.O. BOX 59 - DILI
T: +670 331 371 2 / 4 / 5 / 8
F: +670 331 371 3 / 6 / 7

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Source: Banco Central de Timor-Leste — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works