Regulatory Alerts2020-12-17
Added · Updated
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.