It is hereby notified for general information that on 21st February 2020, the Financial Action Taskforce (FATF) issued a public statement as a part of its on-going review of compliance with the AML/CFT standards and has identified jurisdictions that have strategic AML/CFT deficiencies. FATF calls on these jurisdictions to complete their agreed action plans expeditiously and within the proposed timeframes.
Licensees of the International Financial Services Commission (the “Commission”) should take account of these notices when reviewing their obligations under the Money Laundering and Terrorism (Prevention) Act and in updating their AML/CFT policies and procedures. The attention of all licensees of the Commission is called to the FATF Public Statement – February 2020.
INTERNATIONAL FINANCIAL SERVICES COMMISSION
10th December 2020