Regulatory Alerts2023-11-29
Guidelines Summarizing the Main Legal Obligations of Other Financial Institutions
The Bank of the Republic of Haiti issues guidelines requiring financial institutions to implement comprehensive anti-money laundering and counter-terrorist financing programs, including internal controls, client identification, and enhanced due diligence. Institutions must appoint a compliance officer, maintain centralized data systems, conduct continuous employee training, and retain records for at least five years. Failure to comply with these legal obligations subjects institutions to administrative sanctions, fines, or license revocation by the central bank.
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