It is hereby notified for general information that on 21st June 2019 the Financial Action Taskforce (FATF) as a part of its on-going review of compliance with anti-money laundering and countering the financing of terrorism (“AML/CFT) standards, has updated its list of jurisdictions with strategic AML/CFT deficiencies. The jurisdictions on the list have developed an action plan with the FATF, as well as providing a written high-level political commitment to address the identified deficiencies.
Licensees of the International Financial Services Commission (the “Commission”) should take account of these changes when conducting a review in fulfillment of their obligations under the Money Laundering and Terrorism (Prevention) Act or in updating their AML/CFT policies and procedures.
The attention of all licensees of the International Financial Services Commission is called to the FATF STATEMENT ON IMPROVING GLOBAL AML/CFT 21 June 2019.