Regulatory Alerts2018-09-21
Advisory on the FATF-Identified Jurisdictions with AML/CFT Deficiencies (FinCEN Advisory FIN-2018-A004)
The Financial Crimes Enforcement Network issued this advisory to alert U.S. financial institutions to the Financial Action Task Force's June 2018 updates regarding jurisdictions with strategic anti-money laundering and counter-terrorist financing deficiencies. The document mandates that institutions apply countermeasures against the Democratic People's Republic of Korea and implement enhanced due diligence for Iran, while noting Pakistan's addition to the list of jurisdictions under ongoing monitoring. It further details existing U.S. sanctions and regulatory obligations that supersede or reinforce these international standards for the DPRK, Iran, and other listed countries.
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