The Financial Action Task Force, an intergovernmental body that establishes international standards to combat money laundering, counter the financing of terrorism and combat weapons of mass destruction proliferation financing, has updated its statements concerning jurisdictions with strategic AML/CFT/CPF deficiencies. The Financial Crimes Enforcement Network announced U.S. financial institutions should consider the FATF’s statements when reviewing their obligations and risk-based policies, procedures, and practices with respect to the jurisdictions identified by the FATF.
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