Regulatory Alerts2025-01-01
Decision No. (2) of 2025 - High-Risk and Increased Monitoring Jurisdictions
The Palestine Monetary Authority issued Circular No. 16/2025 to enforce Financial Follow-Up Unit Decision No. (2) of 2025, which updates the lists of high-risk and increased monitoring jurisdictions in alignment with FATF standards. The decision mandates that financial institutions and designated non-financial businesses apply enhanced due diligence and specific counter-measures when dealing with high-risk countries, including North Korea, Iran, and Myanmar. It also revises the grey list by adding Bolivia, the British Virgin Islands, and removing Croatia, Mali, and Tanzania, requiring institutions to consider these jurisdictions' identified deficiencies during their own risk assessments.
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