Regulatory Alerts2025-01-01
Circular No. 29 (2025) on High-Risk Jurisdictions and Enhanced Due Diligence Countries
The Palestine Monetary Authority issued Circular No. 29 (2025) to enforce the Financial Follow-Up Unit's Decision No. (2025/3), requiring financial institutions and designated non-financial businesses to apply enhanced due diligence and risk-based approaches to jurisdictions on the FATF high-risk and grey lists. The circular mandates specific countermeasures for North Korea and Iran, updates the grey list by removing South Africa, Nigeria, Mozambique, and Burkina Faso, and provides detailed instructions for accessing mutual evaluation reports and implementing action plans to address strategic deficiencies in AML/CFT regimes.
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