Regulatory Alerts2022-12-05
Added · Updated
Circular Letter No. CC/2022/00000039
The circular requires credit institutions, financial companies, payment institutions, and electronic money institutions to adopt countermeasures against North Korea and Iran due to very high risks of money laundering, terrorist financing, and weapons proliferation, including specific measures under Article 99 of Law No. 83/2017. Enhanced due diligence measures must be applied to transactions involving North Korea, Iran, and Myanmar, as well as jurisdictions under increased monitoring and other high-risk third countries listed in Delegated Regulation (EU) 2016/1675. The document updates the list of monitored jurisdictions to include the Democratic Republic of Congo, Mozambique, and Tanzania, while noting the removal of Pakistan and Nicaragua from that list.