Regulatory Alerts2012-11-21 | FinCEN Advisory – FIN-2012-A011Added
Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT)
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, Brunei Darussalam, Cambodia, Ghana, Kuwait, Kyrgyzstan, Mongolia, Morocco, Namibia, Nepal, Nicaragua, Philippines, Sudan, Tajikistan, Venezuela, and Zimbabwe, noting that each has provided a high-level political commitment to address these deficiencies. It also reports on the substantial AML/CFT improvements in Trinidad and Tobago, which has been removed from the FATF monitoring process, and Ghana, which is now identified in this document instead of a previous advisory.