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High-risk and Other Monitored Jurisdictions by FATF

FijiFIU: 6 May 2020

High-risk and Other Monitored Jurisdictions by FATF
Financial institutions are required under section 10(1) (c) of the Financial Transactions Reporting (FTR) Act and under regulation 17 and 20 of the FTR Regulations to monitor business relations and transactions with natural persons, legal entities and arrangements in higher risk countries and countries that do not have adequate systems in place to prevent or deter money laundering (ML), terrorist financing (TF) and weapons of mass destruction proliferation financing (PF).

I. High-Risk Jurisdictions subject to a Call for Action
High-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.

FATF Public Statements:
Democratic People's Republic of Korea (DPRK) and Iran II. Jurisdictions under Increased Monitoring by FATF
Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the ‘grey list’.

FATF Public Statements:
Albania; The Bahamas; Barbados; Botswana; Cambodia; Ghana; Iceland; Jamaica; Mauritius; Mongolia; Myanmar; Nicaragua; Pakistan; Panama; Syria; Uganda; Yemen; and Zimbabwe Section 2.3 of FIU Enforceable Guideline 6 requires the FIU to inform financial institutions from time-to-time of countries that have been identified by FATF as having inadequate systems for preventing and deterring ML, TF and PF.


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