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Anti-Money Laundering

  • Jurisdictions Identified by the Financial Action Task Force

    The Financial Action Task Force on Money Laundering (FATF) is an inter-governmental organization whose members include 35 countries and two international organizations. FATF sets forth the international framework for AML efforts in its 40 FATF Recommendations (2012) on money laundering and 9 FATF Special Recommendations on terrorist financing. Its purpose is to establish international standards, and to develop and promote policies, both at national and international levels, to combat money laundering and the financing of terrorism.

    FATF issues public statements identifying high-risk and non-cooperative jurisdictions, i.e., jurisdictions with strategic deficiencies in anti-money laundering/countering the financing of terrorism measures.

    FinCEN issues advisories to inform financial institutions that FATF has updated its list of jurisdictions with strategic AML/CFT (combating the financing of terrorism) deficiencies and advise them to consider these updates when reviewing their enhanced due diligence obligations and risk-based policies, procedures, and practices.

    FinCEN issued an advisory on September 15, 2017, informing financial institutions that FATF had updated its list of jurisdictions with strategic AML/CFT deficiencies.

    FinCEN provides access to prior advisories that set out FATF updates of jurisdictions with strategic AML/CFT deficiencies. See also FATF public statements identifying high-risk and non-cooperative jurisdictions.