Regulatory Alerts2023-01-01
Added · Updated
The Bank of Jamaica Specified Territories Supervisory Authority Notice, 2023
The Bank of Jamaica issued this notice to enforce enhanced customer due diligence and countermeasures for business relationships with customers in specified territories. Regulated financial institutions must apply these measures to jurisdictions identified by the Financial Action Task Force as having strategic deficiencies or high-risk status, as well as those designated by the Supervisory Authority. The notice defines the scope of applicable institutions and territories under the Proceeds of Crime legislation to combat money laundering and terrorist financing.