Regulatory Alerts2021-01-01
Added · Updated
Advisory Based on the FATF Identified Jurisdictions with AML/CFT and Proliferation Deficiencies (Grey-List) (March 2021)
The Nigerian Financial Intelligence Unit advises reporting entities and competent authorities to exercise caution when establishing business relationships or conducting financial transactions with jurisdictions identified by the FATF as having strategic deficiencies in their AML/CFT regimes. The advisory lists Albania, Barbados, Botswana, Burkina Faso, Cambodia, the Cayman Islands, Ghana, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, and Senegal as jurisdictions subject to increased monitoring. Financial institutions are required to review their obligations and risk-based policies, procedures, and practices with respect to these specific jurisdictions to mitigate AML/CFT threats.