Regulatory Alerts2019-11-12
FinCEN Advisory FIN-2019-A007: FATF-Identified Jurisdictions with AML/CFT Deficiencies and Relevant U.S. Actions
The Financial Crimes Enforcement Network issued this advisory to inform financial institutions of the Financial Action Task Force's October 2019 updates to its list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism deficiencies. The document details specific regulatory actions, noting that the Democratic People's Republic of Korea and Iran remain subject to countermeasures while Iceland, Mongolia, and Zimbabwe were added to the monitoring list. It further outlines the extensive U.S. sanctions, prohibitions, and enhanced due diligence requirements applicable to these jurisdictions, particularly regarding North Korean proliferation financing and Iranian terrorist financing risks.
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