Regulatory Alerts2023-04-12
Added · Updated
Circular Letter No. CC/2023/00000016
The document requires credit institutions, financial companies, payment institutions, and electronic money institutions to adopt specific countermeasures and enhanced due diligence measures regarding business relationships and transactions involving high-risk jurisdictions identified by the Financial Action Task Force (FATF) in its February 2023 plenary meeting. Specifically, institutions must apply countermeasures under Article 99(1)(b) of Law No. 83/2017 to the Democratic People's Republic of Korea and the Islamic Republic of Iran, and conduct enhanced identification and diligence for transactions involving these countries, Myanmar, and other jurisdictions under increased monitoring or listed in EU Delegated Regulation 2016/1675.