The NFA advised futures commission merchants and independent brokers that they should revise their anti-money laundering programs to reflect the most current information on jurisdictions identified by the Financial Action Task Force ("FATF"). The NFA alert concerned the latest FinCEN Advisory Notice on jurisdictions with strategic deficiencies in combating anti-money laundering and countering the financing of terrorism ("AML/CFT").
FinCEN recently (i) notified financial institutions of jurisdictions with strategic deficiencies in their AML/CFT regimes, (ii) added Ethiopia to the listing and monitoring process, and (iii) cautioned that Iran would remain in the "Enhanced Due Diligence" category through June 2017.
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