Tuesday, May 10, 2016

Moneylenders and NGOs added to watchlist categories. Central Bank tightens noose around money launderers


The Central Bank (BDL) has added three categories of customers to the list of clients that banks and financial institutions should classify according to their risk for money laundering and terrorist financing.

BDL's intermediate circular 421 has identified moneylenders (known locally as credit comptoirs) and non-banking institutions that carry out electronic cash transfers. It also includes charitable organizations, especially newly-established, that do not have clear financing programs ...

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