The main substantive development this week is the CBA notification of new EU Council and UN Security Council restrictive measures, requiring all obliged entities to update their sanctions screening lists. ICPAC has also issued a geographic exposure questionnaire for Administrative Service Providers (ASPs) — a direct data-collection obligation. A new FATF report on underground banking and hawala typologies is worth noting for risk assessment purposes. The remaining items (AML certification exam registration reminders) are administrative.
All obliged entities must update sanctions screening databases and re-screen active clients against the new EU/UN designations; check the CBA circular for the specific listings and effective dates.
Administrative Service Providers must complete and submit the annual geographic exposure questionnaire to ICPAC; this is a mandatory supervisory data return and non-compliance is a supervisory risk signal.
New typology report providing updated red flag indicators and methods for underground banking/hawala networks — relevant for sector and national risk assessments and for calibrating transaction monitoring in client matters with high-risk jurisdictions.
Primary documents as published by the supervisors this week. The summary above is ours; the documents are theirs.
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