Regulatory Alerts2019-07-12
FinCEN Advisory FIN-2019-A004 on FATF-Identified Jurisdictions with AML/CFT Deficiencies
The Financial Crimes Enforcement Network issued this advisory to inform financial institutions of updates to the Financial Action Task Force list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism deficiencies. The document details that the Democratic People's Republic of Korea and Iran remain subject to countermeasures and enhanced due diligence, while Panama was added to the monitoring list and Serbia was removed. It further outlines specific United Nations Security Council resolutions and U.S. sanctions programs that prohibit or restrict financial transactions involving these jurisdictions and require heightened scrutiny of related activities.
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