Regulatory Alerts2026-07-10
Added · Updated
FATF Statements on High-Risk Jurisdictions
Reporting entities must apply countermeasures against Iran and the Democratic People’s Republic of Korea, including prohibiting new correspondent relationships and limiting business transactions based on risk. Enhanced due diligence measures are required for Myanmar, with potential countermeasures considered if no progress is made by October 2026. Bosnia and Herzegovina and Iraq are added to the list of jurisdictions under increased monitoring, while Algeria and Namibia are removed. All reporting entities must update their risk assessments and controls in accordance with Section 41(3) of the AML/CFT Act and Regulation 16 of the AML/CFT Regulations.