Regulatory Alerts2006-12-15
Added · Updated
INSTRUCTION No. 15 (Modification No. 2) - Standards on Combating Money Laundering and Terrorist Financing
Instruction No. 15 (Modification No. 2) issued by the Central Bank of Congo establishes standards for combating money laundering and terrorist financing applicable to credit institutions, financial messengers, exchange offices, and microfinance institutions. The document mandates strict client identification, beneficial ownership verification, and enhanced due diligence for high-risk clients, including politically exposed persons and those using remote account opening. It requires subject persons to implement robust internal monitoring systems to detect atypical transactions, retain documentation for ten years, and report suspicions to the National Financial Intelligence Unit.