Regulatory Alerts2013-04-24 | FinCEN Advisory – FIN-2013-A003Added
Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing Risks posed by Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Bangladesh, Bolivia, Brunei Darussalam, Cambodia, Cuba, Kuwait, Kyrgyzstan, Mongolia, Morocco, Namibia, Nepal, Nicaragua, Philippines, Sri Lanka, Sudan, Thailand, Tajikistan, Zimbabwe, and the substantial AML/CFT improvements in Ghana and Venezuela
FinCEN informs banks and other financial institutions operating in the United States of the money laundering and financing of terrorism risks associated with jurisdictions identified by the Financial Action Task Force as having strategic deficiencies in their AML/CFT regimes. The advisory lists Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Bangladesh, Bolivia, Brunei Darussalam, Cambodia, Cuba, Kuwait, Kyrgyzstan, Mongolia, Morocco, Namibia, Nepal, Nicaragua, Philippines, Sri Lanka, Sudan, Thailand, Tajikistan, and Zimbabwe. It also notes that Ghana and Venezuela have been removed from the FATF monitoring process due to substantial AML/CFT improvements.
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