Key outcomes include:
- The addition of Russia to the blacklist due to AML failings in digital currency practices;
- The addition of Lebanon to the list of jurisdictions subject to increased monitoring;
- The removal of Türkiye and Jamaica from the list of jurisdictions subject to increased monitoring;
- The announcement of expanded guidelines for asset recovery, international cooperation to combat FinCrime, and new measures on beneficial ownership transparency;
- The adoption of mutual evaluation reports for Argentina and Oman; and
- The continued strengthening of FATF Standards relating to digital assets to combat illicit financing activities.
✅ Firms should review the latest plenary updates and note any control reviews required following changes to the lists of high-risk jurisdictions subject to a call for action and the jurisdictions under increased monitoring.
💡 Plenitude Compass has been developed specifically for Financial Crime Compliance teams to keep you informed of changes to geographical risk and its implications for numerous financial crime controls. Visit our website for more information: https://www.plenitudeconsulting.com/services/regtech-products/compass