Regulatory Alerts2021-12-14
advisory Based On The Financial Action Taskforce (fatf) Identified Jurisdictions Under Increased Monitoring (october 2021)
The Nigerian Financial Intelligence Unit (NFIU) has released an advisory based on the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring as of October 2021. This advisory is aimed at informing all Financial Institutions (FIs), Designated Non-Financial Institutions (DNFIs), regulatory authorities, security and intelligence agencies, the judiciary, and other relevant stakeholders in Nigeria about the updates to the FATF list. The advisory highlights the need for caution when establishing business relationships or conducting financial transactions with entities or individuals from the identified jurisdictions with strategic AML/CFT/CPF deficiencies.