Regulatory Alerts2023-01-01
Circular No. 6/2023: Guideline for Risk-Based Politically Exposed Persons
The Palestine Monetary Authority issued Circular No. 6/2023 to require all money changers operating in Palestine to implement the attached Guideline for Risk-Based Politically Exposed Persons. The directive mandates that money changers inform and train relevant staff on PEP identification requirements while applying enhanced due diligence to financial transactions conducted on behalf of these individuals. Compliance is further ensured through the Supervision Group's oversight and coordination with the Financial Monitoring Unit to standardize risk-based PEP management across the sector.
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