Regulatory Alerts2025-01-01
Decision No. (2) of 2025 on High-Risk and Jurisdictions Under Increased Monitoring
The Financial Follow-Up Unit of Palestine issued Decision No. (2025/2) to update the lists of High-Risk Countries (Black List) and Jurisdictions Under Increased Monitoring (Grey List) in alignment with FATF standards. The decision mandates financial institutions and specified non-financial businesses to apply targeted sanctions against North Korea and Iran, and enhanced due diligence measures for Myanmar, while updating the Grey List by adding Bolivia and the UK Virgin Islands and removing Croatia, Mali, and Mauritania. All regulated entities are required to integrate these country risk classifications into their self-assessments and risk-based procedures effective immediately upon circularization.
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