Regulatory Alerts2025-01-21
Added · Updated
Simplified Due Diligence for Non-Bank Financial Institutions (Guidance Note 1 of 2021)
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) of Botswana issued this guidance to standardize the application of simplified customer due diligence (SDD) for non-bank financial institutions. NBFIs must conduct risk assessments to identify low-risk customers, products, and transactions eligible for reduced identification requirements while maintaining continuous monitoring. The framework mandates clear procedures for identifying beneficial owners, managing high-risk exclusions, and terminating relationships when sufficient due diligence cannot be obtained.
More like this from NBFIRA
NBFIRA published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
Share