April 25, 2022

FATF Updates List of Jurisdictions with AML Deficiencies

FinCEN informed financial institutions of changes to the Financial Action Task Force ("FATF") list of jurisdictions with AML deficiencies.

The following changes were made to the "Jurisdictions under Increased Monitoring" list:

  • Zimbabwe was removed from the list; and

  • The United Arab Emirates was added to the list, however, FinCEN noted the UAE has been making significant progress towards strengthening its AML/CFT regime.

Countries that remain on the list are Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Turkey, Uganda and Yemen.

FinCEN also confirmed that the February 2020 statement of FATF, "High-Risk Jurisdictions Subject to a Call for Action" - which calls for enhanced due diligence and countermeasures with respect to the Democratic People's Republic of Korea and Iran - remains in effect.

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