Regulatory Alerts2021-07-23
advisory Based On The Fatf Identified Jurisdictions With Aml/cft And Proliferation Deficiencies (grey List) (march 2021)
The Nigerian Financial Intelligence Unit (NFIU) has issued an advisory based on the Financial Action Task Force (FATF) identified jurisdictions with Anti-Money Laundering, Combating the Financing of Terrorism, and Proliferation Deficiencies (Grey-List). This advisory is aimed at guiding Reporting Entities and Competent Authorities (CA) on observable trends and patterns to mitigate AML/CFT threats. The FATF regularly updates its list of jurisdictions with strategic deficiencies in their regimes to counter Money Laundering, Terrorist Financing, and Proliferation Financing (ML/FT/PF), which may affect the obligations and risk-based approaches of Nigerian financial institutions.