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FATF Updates AML/CFT Deficiencies List

The Financial Crimes Enforcement Network's ("FinCEN") Financial Action Task Force ("FATF") updated its list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism ("AML/CFT") deficiencies. In an Advisory, FinCEN warned U.S. financial institutions that the list may affect their risk-based due diligence obligations concerning the affected jurisdictions.

Cambodia was added to the list of jurisdictions identified as having strategic AML/CFT deficiencies. Other countries on the list include the Bahamas, Botswana, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, and Yemen.

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