Regulatory Alerts2023-09-05
Added · Updated
Instruction No. 15 (Modification No. 3) on Standards for Combating Money Laundering, Terrorist Financing, and Proliferation Financing
This instruction establishes application measures for credit institutions and financial companies in the Democratic Republic of Congo to manage money laundering, terrorist financing, and proliferation financing risks through a risk-based approach. It mandates comprehensive customer identification and verification procedures, including specific thresholds for occasional transactions and enhanced due diligence for politically exposed persons. The document requires entities to implement internal controls, risk mapping, and prior approval processes for new products or technologies by compliance and risk management officers.