Regulatory Alerts2024-08-08
Added · Updated
Circular Letter No. CC/2024/00000026: Disclosure of FATF Communications (June 2024 Plenary Meeting)
The document requires credit institutions, financial companies, payment institutions, and electronic money institutions to maintain countermeasures against North Korea and Iran, and to apply enhanced identification and due diligence measures to transactions involving North Korea, Iran, and Myanmar. It further mandates that institutions adopt risk-proportionate enhanced measures for business relationships and transactions with jurisdictions under increased monitoring or other high-risk third countries listed in EU Delegated Regulation 2016/1675. The circular updates the list of monitored jurisdictions by adding Venezuela and Monaco, removing Jamaica and Turkey, and noting the continued suspension of Russia's membership status.