Regulatory Alerts2024-07-12
Added · Updated
Securities Commission of The Bahamas Notice on FATF Jurisdictions under Increased Monitoring
The Securities Commission of The Bahamas informs licensees and registrants that Monaco and Venezuela have been added to the FATF list of jurisdictions under increased monitoring, while Jamaica and Türkiye have been removed. The notice further states that progress reporting for Kenya, Namibia, Syria, and Yemen has been deferred, meaning their previous FATF statements remain in effect but may not reflect current AML/CFT regime statuses. Licensees and registrants are required to incorporate the ML/TF/PF risks associated with these identified jurisdictions into their business relationship and transaction risk assessments, although the application of enhanced due diligence measures is not mandated.
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