Regulatory Alerts2022-01-01
Law Decree No. (39) of 2022 Concerning the Prevention of Money Laundering and the Financing of Terrorism
Issued by the President of the State of Palestine, Law Decree No. (39) of 2022 establishes a comprehensive legal framework to combat money laundering and the financing of terrorism. The decree defines key terms, criminalizes these offenses, and mandates strict compliance obligations for financial institutions, designated non-financial businesses, and non-profit organizations. It enforces risk-based approaches, enhanced due diligence, and transparency requirements regarding beneficial ownership and shell banks to align with international standards.
Share