AML/CFT Law No. 20 of 2019
Qatar
2019
AML/CFT
Overview
Qatar's AML/CFT Law No. 20 of 2019 was enacted in September 2019 to strengthen the country's compliance with the Financial Action Task Force (FATF) Recommendations . It replaced the earlier 2010 framework and establishes a risk-based approach for preventing money laundering and terrorist financing across financial and non-financial sectors.The law applies to banks, insurance providers, money service businesses, real estate agents, law firms, and other regulated financial and professional entities operating in Qatar. It is enforced by the Qatar Financial Information Unit (QFIU), in coordination with the Qatar Central Bank and sectoral regulators.
Key Obligations
- Apply a risk-based AML/CFT program appropriate to the nature and size of the business
- Conduct customer due diligence (CDD) and verify beneficial ownership information
- Perform enhanced due diligence (EDD) for high-risk clients, including politically exposed persons (PEPs)
- Maintain transaction and client records for at least five years
- File suspicious transaction reports (STRs) with the QFIU without delay
- Appoint a compliance officer and provide regular AML/CFT training to staff
- Undergo independent audits and inspections as required by regulators
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