Regulatory Alerts2024-12-02
Added · Updated
Securities Commission of The Bahamas Notice on FATF List of Jurisdictions Under Increased Monitoring
The Securities Commission of The Bahamas informs licensees and registrants that the Financial Action Task Force has added Algeria, Angola, Côte d’Ivoire, and Lebanon to its list of jurisdictions under increased monitoring, while Senegal is no longer subject to such monitoring. Reporting for Haiti, Kenya, Monaco, Syria, and Venezuela has been deferred, meaning their previous FATF statements remain in effect but may not reflect current status. Licensees and registrants are required to consider the money laundering, terrorist financing, and proliferation financing risks associated with these identified jurisdictions in their risk assessments of business relationships and transactions, even though enhanced due diligence measures are not mandated.