Today, the Financial Crimes Enforcement Network (US Department of The Treasury) issued an advisory ([FIN-2016-A002](https://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2016-A002.pdf)) on last month’s updated FATF lists.
As part of the FATF’s listing and monitoring process to ensure compliance with the international Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) standards, the FATF identifies certain jurisdictions as having strategic deficiencies in their AML/CFT regimes.
These jurisdictions appear in two documents: (I) jurisdictions that are subject to the FATF’s call for countermeasures or are subject to Enhanced Due Diligence (EDD) due to their AML/CFT deficiencies (referred to by the FATF as the “[FATF Public Statement](http://www.fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/public-statement-february-2016.html)”) and (II) jurisdictions identified by the FATF to have AML/CFT deficiencies (referred to by the FATF as “[Improving Global AML/CFT Compliance: On-going Process](http://www.fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-february-2016.html)”).
The FATF has updated both of these documents. FinCEN notes that financial institutions should consider these changes when reviewing their enhanced due diligence obligations and risk-based policies, procedures, and practices with respect to the jurisdictions listed.