Regulatory Alerts2019-01-01
Decision No. (2019/1) of the Financial Follow-Up Unit on High-Risk and Monitored Countries
The Financial Follow-Up Unit of the State of Palestine issued Decision No. (2019/1) to designate specific jurisdictions as high-risk or under increased monitoring for anti-money laundering and counter-terrorist financing compliance. The decision mandates all Palestinian financial institutions to impose strict transaction prohibitions on North Korea, apply enhanced due diligence to Iran, and conduct ongoing monitoring on twelve other listed countries including the Bahamas, Pakistan, and Syria. This directive updates previous regulatory guidance and requires immediate implementation by all competent authorities to align with FATF standards and national AML/CFT laws.
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