FinCEN updated its list of Financial Action Task Force ("FATF") identified jurisdictions with strategic anti-money laundering, counter-terrorist financing, and counter-proliferation financing ("AML/CFT/CPF") deficiencies.
The following changes were made to the "Jurisdictions under Increased Monitoring" list:
- Ghana was removed from the list after a determination that the jurisdiction made significant progress in enhancing its AML/CFT regimes; and
- Haiti, Malta, the Philippines and South Sudan were added to the list after a determination that they have not effectively implemented their AML/CFT frameworks. FinCEN noted, however, that all of these countries have made "high-level political commitments" to strengthen their AML/CFT regimes.
The other countries that remain on the "Jurisdictions under Increased Monitoring" list are Albania, Barbados, Botswana, Burkina Faso, Cambodia, Cayman Islands, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, Syria, Uganda, Yemen and Zimbabwe.
FinCEN also confirmed that FATF's February 2020 statement, "High-Risk Jurisdictions Subject to a Call for Action" - which calls for enhanced due diligence and countermeasures with respect to the Democratic People's Republic of Korea, and Iran - remains in effect.
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