BRH Notice to Financial Institutions on Customer Due Diligence and Sanctions Screening, 7 May 2025
Summary: One-page BRH notice of 7 May 2025 reminding financial institutions of their duty of vigilance over client operations according to each client's risk profile, and of their obligation to screen international sanctions lists under circular 129. It extends the duty to the sub-agents of money-transfer houses, banks and electronic payment providers under circulars 114-3, 121 and 129, and warns of administrative sanctions.
Key Findings
- Financial institutions must exercise vigilance over client operations according to each client's risk profile, set at onboarding and updated regularly.
- Institutions must screen international sanctions lists and apply board-approved internal procedures under circular 129.
- Vigilance covers money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.
- Money-transfer houses, banks and electronic payment providers must ensure their sub-agents apply their compliance programs, under circulars 114-3, 121 and 129.
How to cite
Bank of the Republic of Haiti (BRH), BRH Notice to Financial Institutions on Customer Due Diligence and Sanctions Screening, 7 May 2025, https://brh.ht/wp-content/uploads/Avis-aux-IF-vigilance-renforcee-8-mai-2025.pdf
- Rights holder
- Banque de la République d'Haïti (BRH)