Regulatory Alerts2011-11-15 | FinCEN Advisory – FIN-2011-A014Added
Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing Risks
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, Ghana, Honduras, Kyrgyzstan, Indonesia, Mongolia, Morocco, Namibia, Nepal, Nicaragua, Pakistan, Paraguay, Philippines, Sudan, Tajikistan, Tanzania, Thailand, Trinidad and Tobago, Turkmenistan, Venezuela, Vietnam, Yemen, and Zimbabwe. It also notes substantial improvements in Ukraine, which has been removed from the FATF monitoring process, and updates the list by adding Algeria and Kyrgyzstan since the previous advisory issued in July 2011.