The Financial Action Task Force (FATF) recently updated its lists of jurisdictions with strategic Anti-Money Laundering and Combating the Financing of Terrorism and Counter-Proliferation (AML/CFT/CPF) deficiencies.
The countries of Cameroon, Croatia, and Vietnam were added to FATF’s list of “Jurisdictions under Increased Monitoring.” Countries with this designation have committed to or are in the process of working to address related deficiencies.
FATF’s list of “High-Risk Jurisdictions Subject to a Call for Action” remains unchanged. Burma remains subject to enhanced due diligence while Iran and the Democratic People’s Republic of Korea remain subject to FATF’s countermeasures, including prohibitions on correspondent accounts.
FATF also urges financial institutions to continue their vigilance related to current and future risks for sanctions evasion by the Russian Federation as their FATF membership remains suspended.
Published
2023/07/31
