May 24, 2019 | News

Anti-Money Laundering Deficient Jurisdictions

The NFA has put out an updated list of jurisdictions that are deficient in anti-money laundering and anti-terrorism rules.  There are some of the usual suspects (Iran) and a few new ones (Cambodia).

Financial institutions should be aware of changes and updates the advisory put forth by the Financial Action Task Force.  They have identified jurisdictions with deficiencies in their  AML and the financing of terrorism (CFT).

There are two documents describing the deficiencies.

One document calls for countermeasures and/or enhanced due diligence:  FATF Public Statement

The second identifies jurisdictions that the FATF has determined to have strategic AML/CFT deficiencies:  Improving Global AML/CFT Compliance:  On-going Process

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