Regulatory Alerts2025-01-01
Decision No. (3) of 2025 - High-Risk and Increased Monitoring Jurisdictions
The Palestine Monetary Authority issued Circular No. (25/2025) to enforce the Financial Intelligence Unit's Decision No. (2025/3), which updates the lists of high-risk and increased monitoring jurisdictions in accordance with FATF standards. The decision mandates financial institutions and designated non-financial businesses and professions to apply enhanced due diligence, targeted sanctions, and risk-based approaches to countries on the black and gray lists, including North Korea, Iran, and Myanmar. It also requires the removal of South Africa, Nigeria, Mozambique, and Burkina Faso from the gray list while maintaining strict monitoring and reporting obligations for all listed jurisdictions.
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