The Financial Crimes Enforcement Network (FinCEN) on Friday circulated an updated list of list of jurisdictions having strategic anti-money laundering/counter-terrorist financing (AML/CFT) deficiencies. The list was updated June 29 by the Financial Action Task Force (FATF). FinCEN says the updates may affect U.S. financial institutions’ obligations and risk-based approaches regarding relevant jurisdictions.
“Financial institutions should consider these changes when reviewing their obligations and risk-based policies, procedures, and practices with respect to the jurisdictions noted,” the Sept. 21 advisory states.
FinCEN Advisory (FIN-2018-A004) – FATF-Identified Jurisdictions with AML/CFT Deficiencies