Notices to Members

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Notice I-24-07

March 11, 2024

FCM and IB Members—FinCEN updates its list of FATF-identified jurisdictions with AML/CFT deficiencies

On February 29, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a news release informing U.S. financial institutions of the Financial Action Task Force's (FATF) recent public statement. The statement reiterates that the Russian Federation remains suspended from FATF membership and further warns jurisdictions to remain alert and vigilant to the risks Russia poses to the international financial system.

The release also announced that the FATF reissued its list of jurisdictions with strategic AML/CFT deficiencies. NFA Member futures commission merchants (FCM) and introducing brokers (IB) should review this release to ensure that their AML programs have the most current information on FATF-identified jurisdictions with AML/CFT deficiencies and revise their AML programs accordingly. A copy of the news release is available on FinCEN's website.

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