Regulatory Alerts2012-03-06 | FinCEN Advisory – FIN-2012-A003Added
Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing Risks (FinCEN Advisory – FIN-2012-A003)
The Financial Crimes Enforcement Network informs banks and other financial institutions operating in the United States of money laundering and financing of terrorism risks associated with jurisdictions identified by the Financial Action Task Force as having strategic deficiencies in their anti-money laundering and counter-terrorist financing regimes. The advisory lists Algeria, Angola, Antigua and Barbuda, Argentina, Bangladesh, Brunei Darussalam, Cambodia, Ecuador, Kyrgyzstan, Mongolia, Morocco, Namibia, Nepal, Nicaragua, Philippines, Sudan, Tajikistan, Trinidad and Tobago, Turkmenistan, Venezuela, Vietnam, Yemen, and Zimbabwe. It also notes substantial improvements made by Honduras and Paraguay, resulting in their removal from the FATF review process.