On January 20, 2016, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to financial institutions about an updated list of jurisdictions with strategic anti-money laundering/counter-terrorist financing (AML/CFT) deficiencies released by the Financial Action Task Force (FATF). Financial institutions need to be aware of the jurisdictions on the FATF list in order to ensure adequate risk-based reviews of clients and business transactions regarding the relevant jurisdictions.

The FinCEN Advisory is available at: www.fincen.gov.