FinCEN published a notice reminding U.S. financial institutions of their responsibilities regarding listed jurisdictions with AML deficiencies.
What changed
Financial institutions, including MSBs, now need to enhance their due diligence for transactions involving higher-risk foreign jurisdictions.
Compliance perspective
MSBs with foreign counterparts must adjust their AML controls to mitigate risks associated with transactions involving these jurisdictions.
Key date
Effective date: October 30, 2026.
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