Global task force updates list of jurisdictions eyed for potential money laundering, more

The global money laundering and terrorist financing watchdog last week added Jordan, Mali, and Turkey to its list of jurisdictions that are under increased monitoring under the group’s standards to combat money laundering, counter the financing of terrorism and address other threats, the Treasury’s financial crimes enforcement unit said Tuesday.

The Financial Crimes Enforcement Network (FinCEN) said the the Financial Action Task Force (FATF), an intergovernmental body that establishes international standards to combat money laundering, counter the financing of terrorism, and combat weapons of mass destruction proliferation financing (AML/CFT/CPF), has issued public statements updating its lists of jurisdictions with strategic AML/CFT/CPF deficiencies following its plenary meeting this month. FinCEN said that U.S. financial institutions should consider the FATF’s stance toward these jurisdictions when reviewing their obligations and risk-based policies, procedures, and practices under federal anti-money laundering statutes and rules.

Jordan, Mali, and Turkey were added to the list of jurisdictions under increased monitoring Oct. 21, FinCEN said, while were removed Botswana and Mauritius from that list.

Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering and Combating the Financing of Terrorism and Counter-Proliferation Deficiencies