FinCEN Publishes Updated List of Jurisdictions with AML/CTF Deficiencies

Steven Lofchie Commentary by Steven Lofchie

The Financial Action Task Force ("FATF") updated the list of jurisdictions with strategic anti-money laundering ("AML") and counter-terrorist financing ("CTF") deficiencies. In a public advisory, the Financial Crimes Enforcement Network ("FinCEN") advised financial institutions to ensure that their AML programs have the most current information on FATF-identified jurisdictions with AML and CTF deficiencies, and revise their AML programs accordingly.

Countries that received a status upgrade but not a clean bill of health included Algeria, Angola, Panama and Myanmar (Burma). FinCEN also added Vanuatu to the list as a problem jurisdiction.

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