Regulatory Alerts2021-01-01
Added · Updated
Advisory on FATF-Identified Jurisdictions Under Increased Monitoring (June 2021)
The Nigerian Financial Intelligence Unit updates the list of jurisdictions under increased monitoring to include Haiti, Malta, the Philippines, and South Sudan, while removing Ghana, Jamaica, and the Cayman Islands. Nigerian financial institutions and designated non-financial businesses and professions must review their risk-based policies and exercise caution when establishing business relationships or conducting transactions with these identified jurisdictions. The advisory provides specific strategic deficiencies and action plan requirements for each listed country to guide enhanced due diligence and mitigation of money laundering and terrorist financing risks.