Regulatory Alerts2012-07-19 | FinCEN Advisory – FIN-2012-A007Added
Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing Risks
FinCEN 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 Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Bangladesh, Brunei Darussalam, Cambodia, Kuwait, Kyrgyzstan, Mongolia, Morocco, Namibia, Nepal, Nicaragua, Philippines, Sudan, Tajikistan, Trinidad and Tobago, Venezuela, and Zimbabwe, noting that Ecuador, Vietnam, and Yemen have been moved to a separate advisory. It also reports substantial improvements in Turkmenistan, resulting in its removal from the FATF review process.