Timor-Leste

TL · TLS · Asia-Pacific

7 regulators · 8 laws & regulations · 5 obligations · 1 upcoming deadline

Obligation	Timing	Regulator	Arises from	Source
Banking
AML compliance programme and compliance officer	—	BCTL	Instrução do BCTL n.º 05/2017 – Relativa à Identificação dos Clientes, à Conservação de Documentos e à Comunicação de Operações (BCTL Instruction No. 05/2017 – Customer Identification, Record Retention and Transaction Reporting)	source
Art. 4 requires internal AML/CFT policies and procedures including risk assessment and staff screening. Art. 5 requires a senior-level Compliance Officer approved by BCTL and acting as contact point for BCTL and the UIF. Art. 6 requires an annual compliance report with an auditor's opinion, and Art. 7 requires regular staff training. Law 17/2011 Art. 12 also requires a designated compliance officer.
Customer due diligence (KYC/CDD)	At onboarding + ongoing	BCTL	Instrução do BCTL n.º 05/2017 – Relativa à Identificação dos Clientes, à Conservação de Documentos e à Comunicação de Operações (BCTL Instruction No. 05/2017 – Customer Identification, Record Retention and Transaction Reporting)	source
Art. 9 requires identification and verification of customers and beneficial owners at onboarding, for occasional transactions of US$10,000 or more, where data is doubtful or where ML/TF is suspected. Verification may follow account opening but within 3 business days (Art. 9(7)); if CDD cannot be completed the account must not be opened (Art. 9(8)). Art. 12 requires enhanced due diligence for PEPs, non-residents and cash-intensive businesses, and Art. 13 ongoing monitoring. Law 17/2011 Art. 10 sets the statutory basis.
No obligations match these filters.