Regulatory Alerts2023-03-06 | 29731Updated Guidance for the Application of Simplified Due Diligence for Basic Banking Accounts
The regulator has issued updated guidance regarding the application of Simplified Due Diligence (SDD) for Basic Banking Accounts. This circular letter clarifies the requirements and procedures for financial institutions to implement SDD measures effectively. The document serves as a key reference for compliance with Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing standards.
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