US| The Financial Crimes Enforcement Network (FinCEN) has issued an update following the June 2025 plenary of the Financial Action Task Force (FATF), which identified jurisdictions with strategic deficiencies in anti-money laundering, countering the financing of terrorism, and counter-proliferation finance (AML/CFT/CPF) regimes. The FATF added the British Virgin Islands and Bolivia to its list of Jurisdictions Under Increased Monitoring, while removing Croatia, Mali, and Tanzania; the list of High-Risk Jurisdictions Subject to a Call for Action remains unchanged, with Iran, North Korea, and Burma still subject to enhanced scrutiny and, in some cases, countermeasures. FinCEN advises U.S. financial institutions to review their risk-based policies and comply with enhanced due diligence and sanctions requirements when engaging with entities in these jurisdictions, while avoiding indiscriminate de-risking and ensuring compliance with both U.S. and international obligations.
- The FATF has updated its monitoring lists: the British Virgin Islands and Bolivia are now under increased monitoring, while Iran, North Korea, and Burma remain high-risk jurisdictions requiring enhanced due diligence or countermeasures.
- U.S. financial institutions must adjust their AML/CFT/CPF compliance programs accordingly, applying appropriate due diligence, adhering to U.S. and UN sanctions, and filing Suspicious Activity Reports when necessary.