Regulatory Alerts2024-11-28
Added · Updated
Circular Letter No. CC/2024/00000047
The document requires credit institutions, financial companies, payment institutions, electronic money institutions, and virtual asset entities to maintain countermeasures against North Korea and Iran, apply enhanced identification and due diligence measures to transactions involving North Korea, Iran, and Myanmar, and adopt risk-proportionate enhanced measures for jurisdictions under increased monitoring. It updates the list of monitored jurisdictions by adding Algeria, Angola, Côte d'Ivoire, and Lebanon, removing Senegal, and noting Russia's continued suspension. Institutions must implement these measures for business relationships, occasional transactions, and operations involving residents or establishments in the identified high-risk jurisdictions.