Regulatory Alerts2026-06-17
Added · Updated
Prudential Guideline No. 18: AML/CFT Requirements for Dealing with Higher Risk Countries
Financial Institutions licensed by the Central Bank of Solomon Islands must apply enhanced due diligence to business relationships and transactions involving natural and legal persons from higher risk countries or those identified by the Financial Action Task Force or the Financial Intelligence Unit. Institutions are required to obtain no objection from the Financial Intelligence Unit before dealing with specified higher risk countries, persons, or activities, and must report any suspicious transactions arising from these measures. The guideline mandates the adoption of effective internal controls and systems to deter money laundering, terrorist financing, and proliferation financing, with compliance monitored through on-site and off-site supervision by the Central Bank of Solomon Islands. The Prudential Guideline became effective on June 27, 2019.
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