RegAlertRule · PMA · 17 Dec 2020
Decision No. (2) of 2020 - High-Risk and Enhanced Monitoring Jurisdictions
The Palestine Monetary Authority and the Financial Follow-Up Unit of the State of Palestine issued Decision No. (2020/2) to enforce updated FATF-aligned high-risk and enhanced monitoring jurisdiction lists. The decision mandates payment service companies, financial institutions, and designated non-financial businesses to implement countermeasures against North Korea and Iran, while removing Iceland and Mongolia from the enhanced monitoring list due to improved AML/CFT safeguards. All regulated entities must apply these updated measures effective immediately upon the decision's circulation.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2020/245)
To all payment service companies operating in Palestine Date: Thursday, December 17, 2020
Subject: High-Risk and Enhanced Monitoring Jurisdictions
Attached is a copy of Decision No. (2020/2) issued by the Financial Follow-Up Unit on December 14, 2020, regarding High-Risk and Enhanced Monitoring Jurisdictions in accordance with the list issued by the Financial Action Task Force (FATF).
Accordingly, all payment service companies operating in Palestine are requested to take the necessary legal measures to implement the requirements of the aforementioned decision and the corresponding measures.
Supervisory Group
Palestine Monetary Authority
Copy: The Honorable / Financial Follow-Up Unit
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 - Palestine - Ramallah and Al-Bireh Governorate info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 Gaza - Palestine P.O. Box 4026 - Palestine - Gaza Fax: +970 8 2844487 | Tel: +970 8 2825713 www.pma.ps
Financial Follow-Up Unit
State of Palestine
Financial Follow-Up Unit
State of Palestine
Decision No. (2020/2)
Issued by the Financial Follow-Up Unit
Dated December 14, 2020
Regarding High-Risk and Enhanced Monitoring Jurisdictions Lists
Based on the provisions of Decision-Law No. (20) of 2015 on Combating Money Laundering and Terrorist Financing and its amendments, particularly Paragraph (16) of Article (20), and based on Decision No. (8/J/4/2016) of the National Committee for Combating Money Laundering and Terrorist Financing issued on December 1, 2016, regarding empowering the Financial Follow-Up Unit to publish the list of high-risk countries periodically issued by the Financial Action Task Force (FATF), and subsequently the determinations made by the FATF on February 21, 2020, and October 23, 2020, and further to Decision No. (T/5/2020) of the National Committee for Combating Money Laundering and Terrorist Financing issued on February 24, 2020, regarding High-Risk and Enhanced Monitoring Jurisdictions, and subsequently to Financial Follow-Up Unit Decision No. (2020/1) dated February 25, 2020, regarding High-Risk and Enhanced Monitoring Jurisdictions Lists.
Based on public interest requirements, the following is decided:
First
High-Risk Countries List (Blacklist)
The continuation of countermeasures against High-Risk and Non-Cooperative Jurisdictions pursuant to Item (Second) of Financial Follow-Up Unit Decision No. (2020/1), where the High-Risk Countries List comprises the following countries:
- Democratic People's Republic of Korea (North Korea).
- Islamic Republic of Iran (Iran).
1/2
State of Palestine – Al Bireh P.O. Box 3981
Tel: 0097022967401/2 Fax: 0097022967426
E-mail: info@ffu.ps www.ffu.ps
Financial Follow-Up Unit
State of Palestine
Financial Follow-Up Unit
State of Palestine
Second
Enhanced Monitoring Countries List (Greylist)
The Enhanced Monitoring Countries List (Greylist) is amended by removing the Republic of Iceland and the Republic of Mongolia due to their effective safeguarding of Anti-Money Laundering and Counter-Terrorist Financing systems, and the continuation of applying the procedures stipulated in Item (Fourth) of Financial Follow-Up Unit Decision No. (2020/1) to the countries on the Greylist, as required below:
| No. | Country Name | No. | Country Name |
|---|---|---|---|
| 1 | Republic of Albania | 9 | Union of Myanmar (Myanmar) |
| 2 | Commonwealth of The Bahamas (Bahamas) | 10 | Republic of Nicaragua |
| 3 | Barbados | 11 | Islamic Republic of Pakistan (Pakistan) |
| 4 | Republic of Botswana | 12 | Republic of Panama |
| 5 | Kingdom of Cambodia | 13 | Syrian Arab Republic (Syria) |
| 6 | Republic of Ghana | 14 | Republic of Uganda |
| 7 | Jamaica | 15 | Republic of Yemen (Yemen) |
| 8 | Republic of Mauritius | 16 | Zimbabwe |
Third
Implementation
All financial institutions and designated non-financial businesses and professions shall implement the provisions of this decision, which shall take effect from the date of its circulation.
Director of the Financial Follow-Up Unit
A. Wael Lavi
2/2
State of Palestine – Al Bireh P.O. Box 3981
Tel: 0097022967401/2 Fax: 0097022967426
E-mail: info@ffu.ps www.ffu.ps
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (3)
- Supersedes
- Financial Follow-Up Unit Decision No. (2020/1) dated February 25, 2020, regarding High-Risk and Enhanced Monitoring Jurisdictions ListsNot in RegAlert · Financial Follow-Up Unit
“and subsequently to Financial Follow-Up Unit Decision No. (2020/1) dated February 25, 2020, regarding High-Risk and Enhanced Monitoring Jurisdictions Lists.”
- Issued under
- Decision No. (8/J/4/2016) of the National Committee for Combating Money Laundering and Terrorist FinancingNot in RegAlert · National Committee for Combating Money Laundering and Terrorist Financing
“and based on Decision No. (8/J/4/2016) of the National Committee for Combating Money Laundering and Terrorist Financing issued on December 1, 2016”
- Decision-Law No. (20) of 2015 on Combating Money Laundering and Terrorist FinancingNot in RegAlert
“Based on the provisions of Decision-Law No. (20) of 2015 on Combating Money Laundering and Terrorist Financing and its amendments”
Similar documents from other regulators
BDPCircular Letter No. CC/2020/00000074Portugal · 2020-12-31
FSAFATF Statements on High-Risk JurisdictionsSeychelles · 2026-07-10
HKMAStatements issued by the Financial Action Task ForceHong Kong · 2021-03-10
CBNFinancial Action Task Force Statements on Jurisdictions Under Increased Monitoring and High-Risk JurisdictionsNigeria · 2022-12-23
FINCENAdvisory on the FATF-Identified Jurisdictions with AML/CFT DeficienciesUS Federal · 2016-09-07
NFIUAdvisory on FATF-Identified Jurisdictions Under Increased Monitoring (October 2021)Nigeria · 2021-01-01
NBTProcedure for Forming and Publishing the List of High-Risk Countries and Territories and Measures Applied to ThemTajikistan · 2025-05-08
CSSFCSSF Circular 22/822 on FATF High-Risk Jurisdictions and Increased MonitoringLuxembourg · 2022-10-27
CBJCircular to Licensed Exchange Companies Regarding FATF High-Risk and Monitored JurisdictionsJordan · 2020-07-14
BSPCL-2025-011: Financial Action Task Force (FATF) Publications – 21 February 2025Philippines · 2025-02-28
BNACircular Letter No. 02/2023Angola · 2023-03-01
SECImplementation Of FATF Statements On High-Risk Jurisdictions Subject To A Call For Action And Jurisdictions Under Increased MonitoringNigeria · 2026-06-19
SCBFinancial Action Task Force Public Statement on list of Jurisdictions under Increased MonitoringBahamas · 2023-03-06
SARBFATF Call for Enhanced Scrutiny of Transactions with Certain Jurisdictions and UN Sanctions on Weapons of Mass Destruction ProliferationSouth Africa · 2008-06-17
MMACircular CN/2024/10079: High Risk JurisdictionsMaldives · 2024-12-29
NBFIRAHigh-Risk Jurisdictions Update (February 2026)Botswana · 2026-02-27
BAFINBaFin Circular 03/2011 (GW) – FATF Updates on Iran, North Korea and AML/CFT ComplianceGermany · 2011-04-20
More like this from PMA
PMA published 4 documents in the last 30 days. We email you each new one the day it's published.
Source: Palestine Monetary Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated